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Comparison between Form 16A and Form 16 | Company Vakil

We are going to talk about form 16 and Form 16 A and how they differ:h

 

  • Form 16 definition
  • Form 16A definition

Form 16 definition

This is the wages TDS full certificate ,if you are receiving wages for the financial year that is  more that the basic allowed limit of RS 250,000 it is according to the law that something should be deducted as TDS from the wages .

But if the wages you receive is below the exemption limit your employer will not be reduced the TDS and he or she may not give out this form .you will have more than one form 16 if you have worked in more than one job place.

This form is a certificate that is issued to the employer entailing the details about the wages that is received that year and how much TDS has been reduced .This form consists of two parts that is Part A and Part B ,part A has details of the employee and the employer e.g address ,name ,TAN and PAN details ,duration of work ,information containing amount of TDS reduced . Part B contains other wages, deductions allowed ,information of wages paid  etc.

  1. Form 16 A definition

This is also a TDS certificate where as form16 is for wages income ,this form 16A id only applied for TDS on income rather than wages ,e.g. for TDS reduction on insurance commission, when a bank reduces TDS on interest wages ,TDS reduced on rental transactions ,and other income that is supposed to be reduced TDS .Form 16 A has information about the address and name of the person being deducted ,TAN and PAN information’s . It also have information of wages you have got and the TDS reduced.

Information that is found in Form16 A can also be got on Form 26A,and thus can be used to file your return .this is not so with Form 16 .The information that is received in form 26A is only the TDS reduced by the employer.

This forms are all very crucial and are required  to assist you to file the returns smoothly, you can also check the information about the wages and how much TDS has been reduced and with what rate .

For more details visit Company Vakil

 

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