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Form 16 Password Guide and FAQs

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0% found this document useful (0 votes)
375 views3 pages

Form 16 Password Guide and FAQs

tcs faq
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Form-16 FAQ

1. What is a Form 16?


Ans: Form 16 is a certificate issued under section 203 of the Income Tax deducted at source
(TDS) by the employer and submitted by them to the Income Tax (IT) department. This
certificate outlines how much tax the employer deducted and when it was submitted to the IT
department. If an employee switched jobs during the year, or worked with different employers
at the same time, and tax has been deducted at all places, a separate Form 16 must be obtained
from each of them.

2. Who is eligible for a Form 16?


Ans: Any salaried person whose tax has been deducted by the employer at the source is eligible
to get the Form 16. Whether an employee's income falls under the tax exemption limit or not,
the employer must issue a Form 16 if they have deducted tax at the source.

3. When and how will I receive my Form 16?


Ans: By the first week of June every year at the latest, Allsec will email your Form 16 to the
personal email address you listed on the Online Separation Tool. Inactive employees can visit
their Allsec external page and got to Tax >Form 16 details to download all the form 16 during
their tenure.

4. What is the password to open form 16?


Ans: Password to open form 16 is employees DOB mentioned in Allsec portal the format is
DD/MM/YYYY Note: Please include forward slash “/” while entering the password.

5. What is Form 16A and Form 16B?


Ans: Form 16 contains the information an employee needs to prepare and file their income tax
return. It has two prominent components – Part A and Part B, which reflect most of an
employee's details divided into parts. These aspects of Form 16 are crucial when filing income
tax returns. View the following components of Form 16 in detail:

[Link] to read various sections for Form 16?

Form 16A

Part A of Form 16 has basic details of the employee and the employer, such as:
• Name of the employee
• Address of the employee
• Permanent account number (PAN) of the employee
• Name of the employer (Tax depositor)
• Address of the employer (Tax depositor)
• PAN of the employer
• Address of the employer
It also contains the following details:
• Tax deductions
• Central government account deposit dates
• Challan (ID number for deposits) details issued by the employee's government

Form 16B
Part B of Form 16 contains a detailed breakdown of how an employee's tax was computed
while taking into consideration, the investment declaration they made at the beginning of the
financial year and the proof of investment submitted afterwards.

It also includes details of other allowances that the employer provided to the employee, which
may be necessary for tax computation purposes. Any other details such as house rent, medical
bills, equated monthly installments (EMIs) paid towards your home loans and donations
exempted from taxation that they may have furnished to the employer. The details include:

• Employee's gross salary


• Allowances exempt under section (u/s) 10 of the Form 16.
• Employment taxes
• Deductions u/s 80C
• Some examples include details like provident funds (EPF/ PPF) housing loans, national
saving certificate, life insurance plans, tax saving mutual funds (ELSS), and any other
investments in tax saving schemes
• Deductions under Other sections (80E, 80G, 80TTA)
• Includes (not limited to) National Pension Scheme, medical claims, donations exempt
u/s 80-G, and others
• Tax on total income
• Any taxes
• Some examples include education tax, Swachh Bharat tax, government taxes
• Any rebate on taxes
• Any surcharges

7. How to validate the digital signature in Form 16?


Ans: You can validate the digital signature in your form 16 by following the below steps:
1. Open the attached form 16 in Adobe Reader 9.3 and above, go to first page of the form
16, you will see digital signature as “Signer’s Identity unknown” on the Bottom left hand
corner of the first page.
2. Keep the cursor on “Signer’s Identity Unknown”, click on it and then select “Signature
Properties”.
3. Click on the “Show Certificate”, then click on “Trust”, then click on “Add to Trusted
Identities” and select “Ok”.
4. Select “Ok” and close all the windows.
5. Close the file and reopen it again, you will see digital signature as “Signature Valid” with
a green tick mark on the top.
6. Note: You need to follow these steps only when you are opening for the first time.
8. What is the alternative available before form 16 is generated?
Ans: Employees can download the Form 26AS from the income tax website. Form 26AS
provides important information about tax deducted/collected and deposited with the
government tax authorities by the company. A taxpayer can view all financial transactions
involving TDS for the relevant financial year in Form 26AS.

9. Does Amazon help employees file their income tax returns with a Form 16?
Ans: Employees can consult a tax specialist or chartered accountant (CA) for any assistance to
file their income tax returns. Amazon will only provide the Form 16 to the employees.

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