Income tax form 16 is issued by an employer to its employee as a proof of the amount deducted as income tax has been deposited. Income tax form issued on annual basis i.e. every year on or before May 31st.
Income tax rebate can be claimed by resident individuals whether male or female & senior citizens or you can say by all taxpayers.
As the name suggests it’s a tax levied on incomes or earnings by companies & individuals. The government imposes this tax to provide better infrastructure & facilities to citizens also for some Government’s own activities. Income tax needs to be filed every year by individuals & entities. The only sector exempted from income tax is agriculture.