Form 16 Tax Estimator
Last Updated: 8 April 2026
What is Form 16 Tax Estimator & Refund Calculator?
The Mathematical Formula
Net Tax = (Gross Salary - Exemptions - Deductions) x Tax Rate + 4% Cess
📊 Practical Example
"If your Gross Salary is ₹15L and TDS deducted is ₹1.2L, you can use this tool to see if you should have chosen the New Regime to get a refund or if you owe more tax."
⚠️ Common Mistake
Frequently Asked Questions
Q.What is the difference between Part A and Part B of Form 16?
Part A is a summary of the quarterly tax deducted (TDS) by your employer and deposited with the government. Part B is the detailed computation of your taxable income, exemptions, and final tax liability.
Q.When do I get my Form 16 from my employer?
By law, employer must issue Form 16 by June 15th of the assessment year (the year following the financial year).
Q.How do I calculate HRA exemption for Form 16?
HRA exemption is the minimum of: 1. Actual HRA received, 2. Rent paid minus 10% of basic salary, 3. 50% of basic salary (for metro cities) or 40% (non-metro).
Q.Can I claim deductions not mentioned in my Form 16?
Yes. While filing your Income Tax Return (ITR), you can claim deductions (like 80G for donations or 80D for medical insurance) even if you didn't declare them to your HR department earlier.