Form 16 is a key document that salaried employees typically rely on when filing their income tax returns (ITR). Issued by the employer, it provides a summary of salary paid and tax deducted at source (TDS) during the financial year. But what if your employer hasn’t issued Form 16 or you’ve changed jobs and missed it? Don’t worry—you can still file your ITR using other documents that reflect your income and tax payments accurately.
Calculate the total earnings from your pay slips
Your twelve monthly salary slips are a nice way of arriving at your total salary during the financial year. The slips provide you with details such as basic salary, house rent allowance (HRA), bonus, and deductions such as provident fund and professional tax. If you compute the slips of all twelve months, you can determine your gross and net salary for the year and file your ITR accordingly.
Verify your Form 26AS for credit information
Form 26AS is a collective tax statement on the income tax portal that shows all the taxes deducted on your behalf to you. It shows TDS deposited by your employer to you, interest deposited by banks, and advance tax or self-assessment tax deposited by you. If you are not receiving Form 16, then it is the most original proof of taxes deposited to your PAN and must be verified during filing return.
Download the Annual Information Statement (AIS)
The AIS is a new feature that complements Form 26AS by providing you with a general picture of your financial dealings. It provides details regarding salary, dividends, interest income, transactions in mutual funds, etc. You can download it from the tax website. The statement helps you in verification of every source of income and does not let you miss reporting any taxable income.
Check interest certificates from a bank account
If you receive interest on savings accounts, fixed deposits, or periodic deposits, your bank passbook or annual interest certificate can be utilized for accurate reporting of the income. The certificates are helpful where Form 16 is not available since interest income is overlooked but it is taxable and you need to report it in your return.
Save proof of investment for deductions
Just like Form 16, in these sections you will need to claim deductions like 80C, 80D, and 24(b) by producing valid evidences of investments or expenses. These can be receipts of life insurance premiums, ELSS statements, house loan interest certificates, or medical insurance. Carrying these papers with you would ensure you get the highest admissible deduction even if your employer does not issue a certificate acceptable to you.
While Form 16 simplifies tax filing, it is not mandatory. By using salary slips, Form 26AS, AIS, banking statements, and proofs of deduction, you can file ITR properly and in time. The catch lies in preparing well and verifying all the income and tax credits well in advance before filing.
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