ITR Filing: How to file your Income Tax Return without Form 16?; Steps to Follow

Form 16 is a document that a salaried employee receives from his or her company that contains the amount of tax deducted at source as well as the salary break-up. According to income tax rules, every employer is required to provide Form 16 to its employees.

However, what should you do if Form 16 is not issued? Don’t worry, you can still file your income tax return even if you don’t have a Form 16.

Is it possible to file an ITR without submitting Form 16?

As per the tax experts, filing an income tax return without Form 16 is possible. The Individuals can file their Income Tax Return using documents such as payslips and Form 26AS, as well as their investment records, to claim deductions.

How to file Income Tax Return without Form 16?

Here are the procedures to take if you wish to file an income tax return without using Form 16:

• Get all of your salary or payslips from the previous financial year from your company. They must include information on the pay, benefits, deductions, and other components.
• Now, compute your taxable income. It may be determined after taking into account salary components such as basic pay, allowances, perquisits, bonuses, and so on.
• To calculate taxable income, remove deductions such as house rent allowance, standard deduction, and professional tax.
• Examine your bank statements for extra sources of revenue aside than salary, such as interest, dividends, or other types of income. They should be considered while determining taxable income.
• Now, check Form 26AS, which you may get on the I-T department’s website. It contains a summary of all taxes deducted and deposited against the individual’s permanent account number (PAN).

The tax deducted at source (TDS) data given in the form must exactly match the computed taxable income figures. If any differences are found, the deductor, such as an employer or bank, should be informed. E-verify the return after you’ve filed it.