ITR Filing 2025: Everything you need to know about Form 16 before filing income tax return

Details of the TDS that is collected and deposited on a quarterly basis, as well as the employer's PAN and TAN, are provided in Part A of Form 16.

Part B of Form 16 is an annexure to Part A. Employers are required to provide Part B for their employees, which includes information on the wage breakdown and authorised deductions under Chapter VI-A.  

The form is issued before June 15 of every year. 

Employers will have to pay Rs 100 per day until the default persists if they fail to issue Form 16 by the deadline.

One of the most significant modifications is that Tax Collected at Source (TCS) on specific items will now be displayed on Form 16 along with Tax Deducted at Source (TDS) on other sources of income. These specifics will only be provided, though, if the employee has given their employer this information through Form 12BBA. 

Form 16 will now show enhanced National Pension System (NPS) deductions on employer contributions. 

The rise in the standard deduction shown on Form 16 is another significant modification among others.

You can download your Form 16 from the TRACES, the Income Tax Department of India's website.

Employers can follow these steps to download Form 16:

- Open the official TRACES website - https://www.tdscpc.gov.in - Complete your registration process if you are a new user and create an account. - For existing users, enter your PAN card number (User ID) and Password to log in.  - Navigate to the ‘Downloads’ tab and select ‘Form 16.’ - Choose the Form type and select the financial year for which Form 16 is required. - Verify PAN and other details. - Enter the TDS receipt number and select the date of the TDS. - Add the total tax deducted and collected. - Click on submit to request for download. - Now your Form 16 is available for download.