Financial Literacy News: ITR Filing FY 2023-24: Form 16 outlines the amount of tax deducted at source (TDS) from the salary of an employee and deposited with the government ag ...

Form 16 is issued latest by 15 June of every year by most organisations and is also known as a salary TDS certificate. If an employee’s salary exceeds Rs 2,50,000 then their employer is required to ...

The CBDT said: “The Form No. 16 has been amended vide the Income-tax (Fifth Amendment) Rules, 2023, w.e.f. 1-7-2023 and shall be applicable for the assessment year 2024-25 and subsequent ...