To file ITR without Form 16, you need to replace the missing document with alternative paperwork. Filing ITR before the due date is mandatory for all citizens of India earning over the taxable threshold limit. This is also important for avoiding penalties past the due date.
Incomplete documentation is one of the common reasons for missing the deadlines. If you do not have Form 16, you should know the documents you can attach instead. Read on to know complete information on filing ITR without Form 16.
This is an important document for salaried employees for annual income tax return filing. It includes all the deductions of the employee as well as total taxable income, appearing as a vital document for calculating returns.
Also Read: What is ITR & its Importance?
It has two parts. Part A focuses on tax deducted at source (TDS) from your salary. This includes:
The following is the list of details included in part B of the form:
In addition, it includes taxable deductions under the following sections of the Income Tax Act:
Also Read: Types of ITR Forms in India
All employees must issue Form 16 to their staff for tax filing if they have deducted tax at source. In case they have paid TDS to the government but have not issued the form, a penalty of ₹100 applies every day to the employer or company.
It is only when an employer has not deducted TDS, that they do not provide Form 16 to their employee. In such a situation, you can apply with other valid documents.
The following are acceptable if you want to file ITR without Form 16.
Here are the steps on how to file an IT return without Form 16:
Start by collecting all the documents relevant to ITR filing for the particular financial year. You can ask your employer for a pay slip to compute your total salary. Even if you have switched jobs, collect all the relevant documents of your salary from your current and past employer.
Using all the pay slips, calculate the total income earned during the financial year. Make sure to include income from other sources, such as rent, interest from investments, dividends, etc.
In the next step, you should determine if there has been any tax deduction on your income. If your bank or issuer has made any deduction, you can find the details on the certificate.
If you are paying premiums for health insurance, have an ongoing home loan, or are investing in a long-term deposit, then you can claim deductions. Checking the applicable deductions and exemptions allows you to save tax.
Depending on the applicable section, you can claim tax deductions up to a specified limit on your total income.
After calculating your total taxable income and removing the deductions, the next step is to compute the total payable tax.
Once you have an estimated taxable income and valid documents as proof, you can simply file your ITR on the income tax website.
Also Read: Personal Loan Without ITR
With regular ITR filing, you not only comply with the law but can also enjoy many benefits as it serves as valid proof of income. It also includes your address and other relevant details which helps to get a faster approval on credit applications.
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Yes, by providing another document as proof for calculating the payable income tax you can file your returns.
In such cases, the most common question that comes to mind is, ‘Can I file ITR without Form 16?’ The answer is yes. You can opt for alternative documents to provide income and deduction proof and file your ITR.
No, if you don’t have this form available, you can still file your IT returns.
You can request your employer or download the form through the Income Tax Department or TRACES portal.
