New Form 16 Download: If you’re a salaried employee, you’ve likely come across Form 16 while filing your income tax return. It’s a key document that serves as proof that your employer has deducted and deposited your taxes with the government. Understanding Form 16 and who is eligible for it is important for both employees and employers. Before you begin the ITR filing 2025 process, ensure you have all necessary documents ready—Form 16 being one of the most important for salaried individuals. 

What’s New In Form 16?

This year, the format of Form 16 has been revised. The new format is more detailed and offers clearer information than before. Previously, it included only basic salary and tax details, but now it provides comprehensive data on tax-free allowances, deductions, and taxable salary. These changes aim to make the Income Tax Return (ITR) filing process easier and more transparent.

What Is Form 16?

Form 16 is a crucial document issued by an employer to an employee. It contains details of the employee’s salary and the Tax Deducted at Source (TDS). This document plays a key role in filing ITR and serves as proof that the employer has deducted TDS and deposited it with the Income Tax Department. Even if you switch jobs during the financial year, it is mandatory to collect Form 16 from each employer. Form 16 is divided into two parts – Part A and Part B.

Form 16 – Part A

Part A includes quarterly details of tax deducted and deposited by the employer. It features the employee’s name, address, PAN, and the employer’s Tax Deduction Account Number (TAN) and PAN. This section helps employees verify the taxes deducted from their salary slips.

Form 16 – Part B

Part B provides a detailed breakdown of the employee’s salary and the exemptions claimed under the Income Tax Act. It includes exemptions under Section 10 (such as HRA) and deductions under Sections 80C and 80D (like life insurance, health insurance, and PPF). This section is very imp while filing the ITR.

Why Is Form 16 Crucial?

Form 16 not only simplifies the ITR filing process but is also essential for applying for loans. Banks and financial institutions consider it valid proof of income. If an employee has paid excess TDS, Form 16 can also be used to claim a refund.

Form 16 Eligibility:

If a salaried person’s income is taxable, the employer must deduct TDS and give them Form 16. But if the income is below the basic exemption limit, no TDS is deducted, and the employer doesn’t need to issue Form 16.

How To Download Form-16

Step 1: Visit the TRACES website (www.tdscpc.gov.in) and log in using your PAN (User ID) and password, or register if you’re a new user.

Step 2: Go to the ‘Downloads’ tab and select ‘Form 16’ from the dropdown menu.

Step 3: Choose the form type and financial year for which you need Form 16.

Step 4: Verify PAN details, enter the TDS receipt number, date of TDS deduction, and total tax deducted.

Step 5: Submit the request and download Form 16 once it’s available under the ‘Downloads’ tab.