As the income tax return (ITR) filing season commences, individuals may wonder if it’s possible to file their ITR even without Form 16.
The answer is yes! Understanding the process and following a few simple steps can help salaried individuals file their ITR smoothly, even in the absence of Form 16.
Step-by-Step Guide: Filing ITR Without Form 16
Experts suggest that salaried individuals can file their ITR without Form 16 by ensuring they have the necessary documents, such as payment slips and Form 26AS.
Here’s a step-by-step guide to filing ITR without Form 16:
- Gather Salary Slips: Collect all the salary slips for the relevant financial year, which should include details of salary, allowances, deductions, and other relevant information.
- Calculate Income: Calculate your income by including salary slips, allowances, bonuses, and any other relevant sources of income.
- Consider Other Sources of Income: If you have income from sources other than salary, such as interest, dividends, or income from other sources, make sure to include those amounts in your taxable income.
- Verify Form 26AS: It is crucial to review and verify Form 26AS, which provides details of taxes deducted on your PAN card.
- Ensure that the TDS details mentioned in Form 26AS align with your income details. In case of any discrepancies, contact your office or bank for clarification.
- File and Verify ITR: File your ITR using the relevant income tax filing portal or software. After filing, remember to verify your ITR, as failure to do so will render your filing incomplete.
ITR Filing Simplified: Beyond Form 16
Salaried individuals need not worry about the absence of Form 16 while filing their ITR.
By following the aforementioned steps and providing the necessary documents, such as payment slips and Form 26AS, taxpayers can successfully complete the ITR filing process.
This simplified approach ensures a seamless filing experience, allowing individuals to meet the income tax return deadline of July 31, 2023.
