What are the prerequisites for Form 16?

greytHR enables you to generate the Form 16 statutory document easily and plan its activities in a phased manner. To do so, as an admin, you must set certain required values in greytHR before they proceed with their first Form 16 generation.

The prerequisites to generate a Form 16 from greytHR are:

• Ensure all your employee salary details and income tax details are updated correctly.
• Avoid mismatch in the employee PAN numbers to avoid error while uploading Form 16-part A to the greytHR application, you will also get an alert message on top of the screen if any employee’s PAN is not updated. Click here to know the employee details and navigate to the Employee Profile page to update the same.
• Ensure the prerequisite components are mapped for Form 12 BA, if not map the per-requisite item and click Save.
• Most importantly, make sure you have downloaded the Form 16 Part A & Part B files of your employees from TRACES, and the same is saved in your system in a PDF format without renaming the original file name.
• Click settings and choose the appropriate options as per requirement for Form 16.

Make sure you set the Financial year in the Form 16 page, as one year preceding the Assessment Year. For example, if Assessment Year is 2019-20 then select FY as 2018-19.

Ensure the Form 16 signatory details are entered.

Also, set the preferences such as form 16 details, and enter the TDS circle address.

Enter the signing date. This will appear on Form 16 of the employee as the date on which Form 16 was signed by the authorized signatory.

The generated date will appear on Form 16 of all the employees as the date on which Form 16 was generated, else current date will be reflected on Form 16 automatically.

The Part B configuration and the Form 16 generation sections on this page will enable you to set up various options to customize your Form 16 generation.

The Tooltip will explain what each option represents. After making the customization do not forget to save the changes.

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Related Links:

Video- To watch the video on Form 16, click here.

FAQs- To read more FAQs about Form 16, click here.

Documentation- To learn more about Form 16, click here.

Product Update- To read about the product update, click here.