Form 16 is a certificate that employers issue to their employees. It is a validation that the TDS has been deducted and deposited with the government authorities on behalf of the employee of the organization.

Form 16 gives a detailed summary of the salary paid to the employees and the deducted TDS. Form 16 contains all the information that an individual needs to prepare and file the income tax return.

ITR-1, also known as the "Sahaj" form, is a tax return form used by individuals in India to file their income tax returns. It is for individuals who have salary or pension income or income from a single house property (except in cases where loss from previous years is carried forward). It is also for individuals who have income from other sources (excluding winnings from the lottery or income from race horses).

ITR-2 is a tax return form used by individuals and Hindu Undivided Families (HUFs) in India to file their income tax returns. It is for individuals and HUFs who have income from sources other than salary or pension and who do not have any income from business or profession.Mytaxpro is India’s simplest tax services platform, offering a range of services like incorporation, GST return filing, income tax filing and more.

ITR-3 is a tax return form used by individuals and Hindu Undivided Families (HUFs) in India to file their income tax returns. It is for individuals and HUFs who have income from a business or profession.

Mytaxpro is India’s simplest tax services platform, offering a range of services like incorporation, GST return filing, income tax filing and more.

ITR-4 is a tax return form used by individuals and Hindu Undivided Families (HUFs) in India to file their income tax returns. It is for individuals and HUFs who have income from a presumed business.

ITR-5 is a tax return form used by firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), BOIs (Body of Individuals), and artificial judicial persons in India to file their income tax returns. It is not for use by individuals or Hindu Undivided Families (HUFs).

ITR-6 is a tax return form used by companies in India to file their income tax returns. It is not for use by individuals, Hindu Undivided Families (HUFs), firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), BOIs (Body of Individuals), or artificial judicial persons.

ITR-7 is a tax return form used by individuals, Hindu Undivided Families (HUFs), firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), BOIs (Body of Individuals), artificial judicial persons, and companies in India to file their income tax returns for certain incomes that are exempt from tax. These incomes include income from property held under trust, income from an institution or fund, income from a trust or institution, and income from a university or other educational institution.

If you receive an income tax notice, speak with a tax professional at mytaxpro.in to understand it and decide what to do next.Mytaxpro is India’s simplest tax services platform, offering a range of services like incorporation, GST return filing, income tax filing and more.

Tax deduction at source in India is a means of collecting tax on income, dividends, or asset sales by requiring the payer to deduct any tax due before paying the balance to the payee. Under the Indian Income Tax Act of 1961, income tax must be deducted at source as per the provisions of the Income Tax Act, 1961.