Form 16 Part B contains a small print that an employee needs to file an income tax return. Form 16B is a TDS certificate that shows the amount of tax deducted at the source during a property purchase. Unlike Form 16 and Form 16A, this type verifies the TDS applicable to the sale proceeds of the property. This Form is issued by a buyer to the seller.
It contains detailed information on the employee’s salary like gross income, taxable income, and all deductions made up of salary. It also contains detailed information on all investments made by the worker for tax savings.
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