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Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999
You can file your Income Tax Return (ITR) without Form 16 by gathering documents like salary slips and bank statements to prove your income.
Form 16 is a vital document for salaried employees in India, serving as a comprehensive record of the Tax Deducted at Source (TDS) on their salary. This form breaks down the salary components, such as Dearness Allowance and House Rent Allowance, and details income tax deductions under various sections like 80C, 80D, and 80G. While it simplifies the process, you can file your income tax return without it. To do so, you have to gather documents providing proof of income. Now, all you have to do is calculate deductions and exemptions, choose the appropriate ITR form, and fill it out while accurately entering your income, deductions, and other details.
For a salaried individual, Form 16 is an important document for filing the income tax return. It is almost impossible for salaried individuals to file income tax returns without Form 16. However, there can be some instances where you do not receive Form 16 from the employer. This can happen due to business closures or changing jobs without completing the exit formalities properly. In this case, you should know how to file ITR without Form 16.
Form 16 is an important form for salaried employees that carries information on the Tax Deducted at Source (TDS) on salary. The form provides a breakup of the salary into different components, including income from salary, income charged as salary, which includes Dearness Allowance and House Rent Allowance, among others, and income tax deductions under Section Section80G, Section80D, 80CCD, 80CCC, and Section 80C. It will also mention the details of the TDS. This form is issued annually to the salaried employee, and it is evidence that the employer deposits the TDS on behalf of the employee.
If you are asking, “Can I file an ITR without Form 16?” The answer is yes. Form 16 is not mandatory for filing an ITR. You can use alternative methods like Form 26AS for this purpose. Follow the guide below to understand how to file an ITR without Form 16.
You need to use your salary slips to compute the income from your salary. You can collect the slips from your employer, who will also provide a breakdown of the salary income. The details include gross salary and the value of perquisites, professional tax, allowances exempted under Section 10, and entertainment allowance.
Form 26AS contains details regarding the TDS amount deducted from all income sources, which includes the income from salary. You need to crosscheck the TDS figures shown on 26AS and see if there are any discrepancies.
If you have any rental income from a house property you own, it is important to report it under this heading. If you have taken a home loan and are paying interest on it, you will get a deduction of the same under the head.
For the sale of equity or mutual funds, you need to pay a capital gain tax if the returns are more than ₹1 lakh and if it is held for more than one year. You need to calculate the income earned from other sources, such as interest on bank deposits and interest on an income tax refund.
You can claim deductions under Sections 80C, 80D, and 80G, among others. Every deduction will have a specified limit.
You must now deduct the deductions from the total earnings to get the final taxable income. You can now estimate the income tax liability, pay tax, and file the ITR.
Form 16 is a crucial document for Indian taxpayers, acting as a certificate from your employer regarding your salary income and deducted taxes. It has two important parts:
This section primarily focuses on tax deducted at source (TDS) from your salary. Here is what you will find:
This part dives deeper into your income details and tax calculations. It usually includes:
If the employer has not made any TDS cut for the financial year, they may or may not issue a Form 16. All employers deducting TDS have to provide Form 16. The certificate proves that the TDS deducted has been paid to the government. However, if the employer deducts TDS but fails to provide Form 16, they will pay a penalty of ₹100 for every day the default continues.
Meanwhile, you should check your Form 26AS to know the TDS cuts, and if it also does not have TDS details, it means the employer did not submit your tax to the government. In such a case, you would pay tax on your income and later claim it from your employer. Documents required in the absence of Form 16:
While not mandatory, Form 16 is significant for you and India’s Income Tax Department. Here is why it is important:
While filing without Form 16 is possible, it requires extra effort and attention to detail. Having Form 16 significantly simplifies the process, reduces the risk of errors, and ensures a smooth tax filing experience.
Therefore, make obtaining your Form 16 a priority. If you encounter issues, reach out to your employer promptly. Remember, timely communication and proper documentation are key to navigating any challenges related to Form 16 and ensuring a stress-free tax filing journey.
1
Yes, you can submit ITR without Form 16, but you must manually report your income from other sources (salary slips, bank statements, etc.).
2
If your employer does not provide Form 16, contact them and request it. You can also access TDS details on the TRACES portal.
3
Form 16A is an alternative containing TDS information if you receive income from more than one employer.
4
Individuals whose income does not fall under the taxable bracket or who are not salaried employees are not eligible for Form 16.
5
No, Form 16 is not applicable for self-employed individuals as it is issued only to salaried employees. Self-employed individuals can use other documents like profit and loss statements and Form 26AS for tax filing.
Pay 10,000/month for 10 years, Get 1,65,805/Year* for next 15 years.
ARN. No. KLI/23-24/E-BB/1201
Features
Ref. No. KLI/22-23/E-BB/999