How to file Income Tax Return without Form 16?

Form 16

In case, Form 16 is not available on time, you can follow these 7 steps to file ITR without it.

Collect your Pay Slip

Form 16 has all the details related to your taxable income. The same can be extracted through a pay slip received from your employer. So, just in case your form 16 is not available, the breakup of salary and particulars of taxable income can be taken from your periodic pay slip.

Make use of 26AS

Form 26AS can let you know TDS deducted from all your incomes during the particular year, including your salary income.

Calculate your deductions

You might have made some expenditures and investments which can reduce your total taxable income. Such outflows include money paid for rent, donations, or eligible deductions.

Compute your income from other sources

Try to recall all the sources from which you received income this year. It might be rental income or income from shares or mutual funds or income from the sale of some asset.

Know your tax payable

After ascertaining the sources of income, deductions to be claimed, TDS already deducted the final computation of income will either excess taxes have been paid, for which you can avail refund by filing ITR.

Choose the appropriate ITR form

The selection of the ITR form is one of the most crucial choices. It mainly depends upon your sources of income and the amount earned. Disclosing correct particulars in the wrong Form can result in invalidating the Return Filed.

File and submit ITR

The last step involves preparing and submitting your return to the Income Tax Department. Further, dont forget to e-verify it within 30 days of filing.