Navigating Tax Deductions: How Do I Handle TDS, Form 16, and Employee Taxes?

Understanding Tax Deduction Procedures

This is Kritika Rawat, HR Executive at xxx Solutions Pvt. Ltd. (working for the last 3 months). I am seeking knowledge on the procedure of tax deduction, including income tax filing, paying taxes to the government, Form 16, and tax returns.

Questions on Tax Deduction Process

1. How do we start the process? (We have a TAN number.)
2. How do we pay employees' taxes to the government?
3. What is the format of Form 16? When should we provide it to employees, and does it require any government stamp?
4. How do we fill in the income tax return?

If you could provide me with a brief practical understanding of the above topics, it would facilitate my efforts in implementing them in my company.

Thanks in anticipation,

Kritika Rawat

Hi, Krithika,

TDS and anything related to income tax are handled by the Finance/Accounts department. If you still have to deduct, how will you calculate and deduct? Do you know the entire calculations of TDS? Any assistance you need, you can reach me.

Thank you for your kind reply.

@JEEVARATHNAM Hi, sir. Actually, for now, I am taking care of Accounts work for my company, so I know how to deduct tax from employees' salary, but I do not know how and when to give TDS certificates to employees. When and how can employees file returns with the Income Tax Department?

@VMAURYA Thank you so much for suggesting the book; I will buy it to help me with payroll management.

Hi Krithika,

If you want to receive the TDS certificates, you have to submit the periodical TDS returns after deducting the TDS and remitting to the Income Tax Department.