Income Tax > Income Tax Glossary

Form 16A is a certificate issued by a deductor (such as an employer, bank, or financial institution) to the deductee (the taxpayer) as proof of tax deducted at source (TDS) on payments made to the taxpayer. It is primarily used for payments other than salaries, such as payments for professional fees, rent, or interest. After filing the TDS return (Form 26Q) for payment other than salary, you need to download Form 16A.

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Cryptocurrency, characterized by its digital nature and cryptographic security, has surged in popularity, with Bitcoin emerging as a top choice among Indians.

In the recent Budget 2022 announcement, Finance Minister Nirmala Sitharaman introduced significant changes in the taxation of cryptocurrency and other Virtual Digital Assets (VDA).