Issuance of Form 16 / 16A / 16B

Forms 16, 16A, and 16B are documents related to the deduction of tax at source (TDS) under the Income Tax Act of India. These forms are issued by deductors to the deductees to provide details of the tax deducted and deposited with the Income Tax Department. Here’s an overview of each form:

1. Form 16:
   • Form 16 is a certificate of TDS from salary. It is issued by employers to their employees to provide details of the salary income and the TDS deducted thereon.
   • Form 16 consists of two parts:
     • Part A: This part contains details of the deductor (employer), deductee (employee), and summary of tax deducted and deposited with the government.
     • Part B: This part contains details of salary income, deductions under Chapter VI-A (such as Section 80C, 80D, etc.), and tax computation.
2. Form 16A:
   • Form 16A is a certificate of TDS for income other than salary. It is issued by deductors (such as banks, tenants, etc.) to provide details of TDS on payments other than salary.
   • Form 16A is issued for various types of income such as interest income, commission income, rent, etc.
   • It contains details similar to Form 16, including the deductor’s and deductee’s details, summary of TDS, and payment details.
3. Form 16B:
   • Form 16B is a certificate of TDS on sale of property (immovable property).
   • It is issued by the buyer of the property to the seller to provide details of TDS deducted on the sale consideration.
   • Form 16B contains details such as the buyer’s and seller’s PAN, address, details of the property transaction, and TDS amount deposited with the government.

These forms serve as important documents for taxpayers to reconcile their income and TDS details while filing their income tax returns. Taxpayers should ensure that the details mentioned in these forms are accurate and match with their own records. If there are any discrepancies, they should be brought to the attention of the deductor for rectification.