Form16 Processing – An overview
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Form 16 is a statement of tax deducted at source by the employer from the income of the employee chargeable under the head “Salaries” in the organization. This statement is generated either at the end of every financial year for each employee or at a time the employee separates from the organization.
This component enables you to process Form16 of an employee. It retrieves all the data from payroll processing for which the tax details are authorized.
Note that the tax liability of an employee calculated through Form 16 will be different from payroll processing as it takes into account only the authorized proofs and not the declarations made by the employee.
Getting familiar with the activity inside
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Form 16 |
