Understanding Form 16 vs. Form 16A: Key Differences in TDS Certificates
Type of Income:
Form 16: TDS on Salary Income.
Form 16A: TDS on Income other than Salary.
Applicability:
Form 16: Salary Income.
Form 16A: Other sources of income.
Issuer:
Form 16: Employer to employee.
Form 16A: Deductor (Payer) to deductee (Payee).
Issuance Frequency:
Form 16: Annually.
Form 16A: Quarterly.
Threshold for TDS Deduction:
Form 16: Salary above Rs. 2,50,000.
Form 16A: Income above specified threshold.
Structure:
Form 16: Part A and Part B.
Form 16A: Single part.
Usage in Tax Filing:
Both used for filing Income Tax Return.
Form 16 for salary income, Form 16A for other incomes.
Access and Correction:
Accessed via TRACES.
Discrepancies can be corrected by deductors.