Form 16 AY 2023-24: Salaried employees will receive Form 16 this month from their employers. Here’s all you need to check

Form 16 AY 2023-24: Salaried employees will receive Form 16 this month from their employers. Form 16 contains details of tax deducted at source (TDS) by the employer on behalf of the employee. Apart from TDS, it includes a detailed summary of the salary paid by the employer.

Employers are required to issue Form 16 by June 15. For filing Income Tax Returns, Form 16 plays a crucial role for salaried individuals as it provides a detailed description of the salary paid to the employee, deductions claimed by the employee, and the tax deducted from it.

The due date for filing ITR for AY 2023-24 is July 31. Before filing the ITR, the following are some of the key points that you should check in your Form 16.

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