It is a TDS return form for filing TDS on salaries.
ITR stands for Income Tax Return. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department.
Whatever is received by an employee from an employer in cash, kind or as a facility is considered as salary.
Form 16 is an Income tax form. It is used by the companies to provide their salaried individuals information on the tax deducted.
The employer has to file this form on quarterly basis.
The employee will get Form 16 at the end of the year.
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