ITR filing: Can you file ITR without Form 16? Read on to find out

 

How to file ITR without Form 16: The 26AS form provides details of any amount deducted as TDS or TCS from various sources of income for a taxpayer. It reflects advance tax and self-assessment tax details and high-value transactions entered into by the taxpayer.

Also Read– CBSE Exempted From Paying Income Tax From FY21 To FY25

How to file ITR without Form 16: Form 16 is the most important document for every salaried employee in India that contains all information like the breakup of salary income. It is the certificate of deduction of tax at source (TDS) and is issued on behalf of the salaried individual i.e., employees on deduction of tax by the employer.

However, in case an individual is not provided with Form 16, he/ she can still file an income tax return (ITR). 

Also Read– Income Tax Calculator Online: How To Know Your Tax Liability On IT Department Portal?

How to file ITR without Form 16? 

Here is how –

First of all, an individual should check the tax slab he/she comes under, depending on his/her income. One is advised to consolidate all pay slips and calculate the taxable income. Find out the exact tax to be paid using the 26AS form.

WHAT IS 26AS FORM?

Read More : New Tax Regime Vs Old Tax Regime selection: 5 reasons to decide now

The 26AS form provides details of any amount deducted as TDS or TCS from various sources of income for a taxpayer. It reflects advance tax and self-assessment tax details and high-value transactions entered into by the taxpayer.

If an individual is liable to pay more tax than the amount in the  26AS form, he/she may have to pay the additional amount before filing ITR.  

HERE IS HOW TO DOWNLOAD 26AS FROM THE E-FILING PORTAL; A STEP-BY-STEP GUIDE

Step 1: Logon to the ‘e-Filing’ portal–https://www.incometax.gov.in/iec/foportal/

Step 2: Go to the ‘My Account’ menu and click the ‘View Form 26AS (Tax Credit)’ link.

Read More:- Rs 147.5 Debited From Your SBI A/c? Know Why Money Was Deducted From Your Savings A/c

Step 3: Click ‘Confirm’ after reading the disclaimer, the user will then be redirected to TDS-CPC Portal.

Step 4: Agree to the acceptance of usage in the TDS-CPC Portal. Click ‘Proceed ‘followed by ‘View Tax Credit (Form 26AS)’

Step 5: Select the ‘Assessment Year’ and ‘View type’, followed by clicking on ‘View / Download’

ITR FILING LAST DATE AY 2023-24

Also Read- Tata Power charges up for Delhi electricity supply in peak summers; inks pact to boost power distribution

The last date to file the ITR for income earned in FY 2022-2023 will be July 31.

(with inputs from the Income tax website)

Source :
Zeebiz

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