Form 16, issued by employers, summarizes salary income, tax deductions, and Tax Deducted at Source (TDS) details. Here are the key points to check before filing your tax returns:
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Ensure your name, Permanent Account Number (PAN), and other personal details are accurate.
Personal Information
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Confirm that the TDS amount deducted by your employer matches the information provided on the form.
tds verification
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Verify the salary components such as basic salary, allowances, and deductions mentioned in Form 16.
salary breakup
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Check the accuracy of your taxable income calculation and deductions, including those under Section 80C, 80D, etc.
taxable income & deductions
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Ensure exemptions and allowances like House Rent Allowance (HRA) & Leave Travel Allowance (LTA) are correctly reflected.
exemptions & allowances
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If you changed jobs during the financial year, verify the accuracy of your previous employment details.
previous emplyment details
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Confirm that Form 16 is digitally signed by your employer to ensure its authenticity.
digital signature
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Verify the Tax Deduction and Collection Account Number provided by your employer.