Form 16: When to expect it and why it matters for salaried employees?

If you're a salaried employee, Form 16 is one document you will want to keep an eye out for during tax season. It acts as a certificate from your employer, detailing how much salary you earned and how much tax was deducted over the financial year. Many employees wait for it before filing their Income Tax Returns (ITR), and rightly so, as it simplifies the process.

So, when will Form 16 for the financial year 2024–25 be issued?

As per income tax rules, employers are required to file their e-TDS returns for the last quarter (January to March) by May 31. After this, they get 15 days to issue Form 16. This means you can expect to receive it by June 15, 2025, at the latest.

As per an India Today report, CA (Dr) Suresh Surana said, "Salaried employees can expect to receive Form 16 for the Financial Year 2024–25 on or before June 15, 2025, in accordance with Rule 31(1)(a) of the Income-tax Rules, 1962. Employers are mandated to issue Form 16 after filing the TDS return in Form 24Q for the fourth quarter, which is due by May 31, 2025."

On the role of Form 16 while filing ITR, CA Surana said, "Form 16 is a certificate of tax deducted at source (TDS) on salary and serves as a key document for filing income tax returns. It provides a detailed summary of salary paid and TDS deducted, enabling employees to accurately file their Income Tax Return (ITR) for Assessment Year 2025–26, the extended due date for which is 15 September 2025 (Circular No. 6 of 2025 dated 27 May 2025)."

If your employer has deducted TDS (Tax Deducted at Source) from your salary, they are required to issue you Form 16. This document is your proof of income and tax paid. It is essential for accurate and timely ITR filing.

However, there’s an exception. Under the tax rules for FY 2024–25, if your income is below Rs 7 lakh under the new regime or below Rs 5 lakh under the old regime, you won’t owe any tax. In such cases, if no TDS was deducted, your employer may not issue Form 16.