Revised Form- 16

The Income Tax department has revised Form-16 by adding various details, including income from house property and remuneration received from other employers, thereby making it more comprehensive to help check tax avoidance.

The revised form, which has been notified by the Income Tax department, will come into effect from May 12, 2019. This means the income tax returns for financial year 2018-19 will have to be filed on the basis of revised Form-16 and this will also include details of deductions in respect of interest on deposits in savings account, rebates and surcharge, wherever applicable.