Form 16: Why is it crucial, its structure & checklist as ITR filing begins

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Form 16: Why is it crucial, its structure & checklist as ITR filing begins - Business Standard

Quick Summary:

Form 16 is a key document for salaried individuals, summarising income and TDS, simplifying ITR filing, and serving as proof for loans, refunds, and visa applications.

This certificate, issued by employers, simplifies the ITR filing process for employees and ensures accurate tax payments.

Simplifies the ITR Filing Process: It consolidates all the necessary information, making it easier for employees to file their tax returns accurately.