Every salaried person needs Form 16 to file his income tax return. According to the rules made by the Income Tax Department, it is mandatory for every office to issue Form 16 for its TDS income employees. However, if you have not been issued Form 16 and you fall in the category of salaried individuals, then you do not need to worry.
The process of filing Income Tax Return (ITR Filing) has started. The last date for filing income tax return has been fixed as 31 July 2023. Many types of documents are also required while filing income tax return. Form 16 is also one of these important documents. Every salaried person needs Form 16 to file his income tax return. According to the rules made by the Income Tax Department, it is mandatory for every office to issue Form 16 for its TDS income employees. However, if Form 16 has not been issued to you and you fall under the category of salaried individuals, then you need not worry. You can also file your income tax return without Form 16.
ITR can be filed without Form 16
According to experts, salaried individuals can file their ITR even without Form 16. For this, they need documents like payment slip and Form 26AS. Also for this you have to follow some steps. To file ITR without Form 16, one should collect all the salary slips related to the relevant financial year. These slips should contain the details of salary, allowances, deductions and other deductions. Apart from this, income should be calculated by including salary slip, allowance and bonus.
Review of bank details is also necessary
To file ITR without Form 16, taxpayers should calculate the source of income from sources other than salary such as interest, dividends and income from other sources. These amounts should be included in taxable income. Apart from this, it is also important to verify Form 26AS. Form 26AS gives the details of all the taxes deducted on your PAN card. Apart from this, it is also important for you to see that the calculation of TDS details mentioned in Form 26AS matches with the income details. If there is any difference in this, then you have to contact your office or bank. Also you have to verify it after filing it. Without verifying your ITR filing will be considered incomplete.
