What is Form 16? When is the last date to receive Form 16 from your employer?

Form 16 is issued only if the employer deducts TDS on the employee’s salary. For FY 2024-25:

Under the new tax regime, no tax is deducted if taxable income is up to Rs 7 lakh.

Under the old regime, no TDS is applicable if taxable income is up to Rs 5 lakh.

Hence, if no tax has been deducted due to lower taxable income or chosen tax regime, the employer may not issue Form 16.