Form 16 certificate contains the statement of income paid to the employee, tax exemptions provided, as well as the relevant taxes deducted and further remitted to the Government.
Also, it has detailed information about the manner of calculating income as per the income tax laws and tax payable on it.
Form 16 generally has two parts to it: Part A & Part B. You can now download both Part A and Part B files from the Traces.
Part A consists of the summary of income paid, taxes deducted and remitted by each quarter and by month and Part B has the summary of salary paid.
By using greytHR you can.
- Upload & merge Part A & Part B documents.
- Generate Form 12 BA & Annexure file
- Then finally, you can sign the Form 16 documents digitally and publish it to your employees
Watch the video to know more about From 16 generation process on greytHR