Due date for Form 16: When will your employer provide you the TDS certificate?
Deadline to obtain Form 16: In order to facilitate their ITR filing process, salaried individuals must obtain Form 16. It is a TDS certificate that lists all taxes withheld throughout the fiscal year together with the total amount of money paid by an employer. Continue reading to find out when the employer must provide Form 16.
For an individual who is salaried, obtaining Form 16 from their employer facilitates the process of submitting their income tax return (ITR).Employers can provide TDS certificates to their staff members using Form 16. It displays the specifics of the income received in salary, the tax regime selected by the employee for TDS on salary, the total amount of tax withheld and deposited throughout the fiscal year from salary income, and the employee's claimed allowable deductions.
Date of issue due A TDS certificate must be issued in accordance with Form 16 Income Tax rules, no later than 15 days after the deductor's deadline for completing the TDS return. For the fourth and final quarter of a fiscal year, the deadline for filing a TDS return is May 31. Since the employer must issue a TDS certificate covering the whole fiscal year, it can only be done so following the filing of the TDS return for the final quarter (Q4) of the fiscal year.
As a result, businesses need to provide Form 16 to workers by June 15—that is, within 15 days of May 31. Employers may also give Form 16s to workers prior to June 15th, but only after filing their TDS return for the preceding fiscal year's fourth quarter.
Recall that the TDS certificate is valid for the fiscal year during which the employer withheld taxes from employees' salaries. Form 16 for FY 2023–24 (AY 2024–25) from your employer is needed to demonstrate the tax withheld from wage income received between April 1, 2023, and March 31, 2024.
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