Form 16 is a tax statement that contains details of the tax deducted at source (TDS) or taxes your company has deducted from your salary and deposited with the government on your behalf.

When you file your income tax returns, Form 16 helps you calculate how much tax you have already paid, and what is due to be paid. If you have paid more tax than you are liable to pay, then you can claim a refund from the Income Tax Department.

Every Form 16 has two components to it- Form 16 Part A and Form 16 Part B.

Mahil Khananswered.Form 16 is a tax statement that contains details of the tax deducted at source (TDS) or taxes your company has deducted from your salary and deposited with the government on your behalf.

When you file your income tax returns, Form 16 helps you calculate how much tax you have already paid, and what is due to be paid. If you have paid more tax than you are liable to pay, then you can claim a refund from the Income Tax Department.

Every Form 16 has two components to it- Form 16 Part A and Form 16 Part B.