Form 16 reflects the tax deducted at source (TDS) during the financial year. The TDS deducted by the employer is deposited with the Income Tax Department. Further, Form 16 also shows any additional income as reported by the employee and the various deductions availed by the employee to bring down the tax liability.Every salaried individual who has a taxable income and tax has been deducted at source by the employer is eligible to receive the Form 16.
