Form 16a – a comprehensive guide - Lucknow

Form 16A is a TDS Certificate verifying the amount of TDS deducted, the Nature of Payments & the TDS Payments filed with the Income Tax Department. As per the Income Tax Act, TDS is responsible for being deducted from all other payments if the payment expected during the year is more than Rs. 30,000.

Although TDS on Salaries substracts at the average rate on the estimated income according to the Tax Rate Slab, TDS on all other payments like TDS on Interest and Rent are to be deducted at the rates by the Govt. The TDS is subtracted and deposited on all other payments except the salary provided in Form 16A.

This TDS Certificate is provided under Section 203 of the Income Tax Act, 1961, and carries the following information:

Name, PAN No. & TAN No. of the Deductor
Name & PAN No. of the Deductee
Nature of Payment, Amount Paid & the date of payment
Receipt No. of the TDS Payment

However, filing Form 16A and filing an ITR is a long and hectic process requiring lots of time, and it demands the accurate submission of all the details.

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