Form 16 has two segments — Part A and Part B. Part A comprises of employee and employer basic details such as employer’s name and address, employee’s name and address, Permanent Account Number (PAN) of both, employer’s Tax Deduction Account Number (TAN), employee’s period of employment with the current employer, and others. Part A also contains details regarding the assessment year (AY), tax deducted, and the dates when the amount was deposited with the central government, and details of a challan issued by the government.
Part B of Form 16 contains details that you will need to file an Income Tax Return(ITR), such as salary paid, other income, tax deducted, and more.
Form 16 serves as proof that the employer has deducted TDS from your salary and deposited it to the Income Tax Department.
