<ul data-eligibleForWebStory="false"><li>Form 16 is a certificate issued by the employer providing a summary of salary paid and TDS deductions during the financial year.</li><li>It is divided into two parts - Form 16 (A) and Form 16 (B) containing details like salary breakup, exemptions, and deductions.</li><li>Deductions under Chapter VI-A include investments in insurance, pension funds, health insurance premiums, etc., outlined in Section 80C to Section 89 of the Income Tax Act.</li><li>Employees switching jobs in a year need to obtain Form 16 from each employer, and Form 16 is issued for taxable incomes falling under the basic exemption limit.</li></ul>

Form 16: First-timer? Here's All You Need to Know About it

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