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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
Form 16 is an essential document given by employers to salaried employees, outlining their earnings and the amount of Tax Deducted at Source (TDS) for the financial year. It helps streamline the process of filing Income Tax Returns (ITR) by presenting a comprehensive overview of salary details, deductions, and applicable exemptions. However, in certain cases, like a job change, business closure, or incomplete exit procedures, this document may not be available. In such situations, knowing how to file ITR without form 16 becomes significant. This blog offers a step-by-step guide to help you prepare the required documents, compute your taxable income, and file your return confidently. It also answers a frequently asked question: Can I file ITR without form 16, ensuring you're well-informed even without this document.
Form 16 is a key document for salaried individuals, containing details about the Tax Deducted at Source (TDS) on their income. It breaks down the salary into various components such as basic salary, Dearness Allowance (DA), House Rent Allowance (HRA), and others. It also includes information about income tax deductions under Sections 80C, 80CCC, 80CCD, 80D, and 80G. This form is issued once a year and serves as proof that the employer has deposited the deducted taxes with the government on behalf of the employee.
Filing your Income Tax Return (ITR) without Form 16 involves gathering alternative documents and performing a few calculations manually. Here’s an easy-to-follow guide for filing your Income Tax Return (ITR) without needing Form 16:
Start by gathering documents that help you compute your total income and tax deductions:
Refer to your salary slips to determine your total earnings prior to any deductions.
Lower your taxable income by applying for valid exemptions:
Verify the TDS details from your salary slips and bank interest against the information in Form 26AS ensure they match and are accurate. Any mismatch should be resolved before filing.
Subtract all applicable exemptions and deductions from your total (gross) salary.
Taxable Income = Gross Income - Exemptions - Deductions
Apply the applicable income tax slab rates to your taxable income to find your tax liability.
If the tax liability exceeds the TDS already paid, pay the balance using Challan 280 on the e-filing portal.
Access the Income Tax e-filing website and select the appropriate ITR form, typically ITR-1 or ITR-2, for those earning a salary. Input your income, deductions, and tax details accurately.
Carefully review all the details before submission. Once submitted, you’ll receive an acknowledgment called ITR-V (Income Tax Return - Verification)
E-verify your ITR through:
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:
With some careful preparation and attention to detail, filing your ITR without Form 16 can be a straightforward process. Staying organized and following these key guidelines can make it much easier:
In some instances, your employer might issue Form 16 after you’ve already filed your Income Tax Return. If you later notice discrepancies between your filed return and the details in the issued Form 16, you don’t need to worry. The Income Tax Department allows you to file a revised return to correct any mistakes or omissions.
For the Assessment Year 2025-26 (pertaining to Financial Year 2024-25), you can revise your ITR up to 31 December 2025. It is important to ensure that the revised return accurately reflects the information from your Form 16 to avoid any future complications or queries from the department.
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
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
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