What is Form 16 and Why is it Important?

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 Form 16 is a crucial document for salaried individuals in India, as it acts as proof of income and tax deductions. It is issued by an employer and contains details about the employee’s salary, deductions, and the taxes paid to the government. Form 16 is divided into two parts: Part A, which includes TDS details, and Part B, which provides a summary of the income and deductions. This form is essential for ITR filing, as it helps taxpayers accurately report their income and claim deductions.


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