It is a document given by a company (who have a TIN No.) to its employees, which contain details of salary earned by the employee every month. It contains all the components of the salary (some are taxable and some are exempted from income tax) including tax saving investment and deduction such as PF of the employee.
All the employees of the company who are on roll of the company will get this Form No. 16 by end Apr every year. It actually states net taxable income and how much tax company is paying to government on employee’s behalf (TDS). The employee may proceed to file the Income Tax Return using all the information on Form No. 16.
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