Form 16 or Form 16A is the certificate of deduction of tax at source. It is issued on deduction of tax by the employer on behalf of the employees and provide details of TDS/TCS for various transactions between deductor and deductee. It is mandatory for employers to issue these certificates to taxpayers.

According to data released by the Life Insurance Council, LIC collected Rs 13,610.63 crore in NBP for the month, up from Rs 12,383.64 crore in April 2024