e-File Income Tax Return without Form-16

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By Hiral Vakil on February 11, 2020

Form 16 is a TDS certificate on salary provided by the employer for a financial year. Employers may fail to provide Form 16 to their employees due to various reasons. In such a case, employees find it difficult to file Income Tax Return. This is because they don’t know their taxable salary and TDS amount.

So the First question that comes to employee’s mind is, can I e-file my Income Tax Return without Form 16? The answer is YES. In such a case, you can use your Form 26AS.

Follow these steps to e-file your ITR without Form 16:

Step 1: Calculate Taxable Salary Income:

You can know your taxable salary for a particular financial year from Line No. 6 of Form 16 Part-B. But when you have not received Form 16 from your employer, you need to calculate your taxable salary for a financial year from payslips.
In this case,

  • Add up all the gross salary received during the year
  • Deduct the allowances to the extent exempt from tax such as HRA, LTA, Conveyance Allowance and other allowances
  • Deduct any tax on employment and statutory deduction paid by the employer

This amount after the above deductions will be your taxable salary income.   

In case you changed jobs during the year,  you need to consider the total gross salary from all the employers while calculating taxable salary income.

Step 2: Compute Taxable Income from all Other Sources:

When you are an owner of house property and if it is let out, then you must report the rental income in your ITR. It is covered under the head ‘Income from House Property’. When you have income such as interest from bank deposits, Recurring Deposits etc. it will be included under the head ‘Income from Other Sources‘. You can check your passbook, Form 16A and Form 26AS to make sure that you are not missing any incomes.

Step 3: Claim Eligible Chapter VI-A Deductions:

Chapter VI-A(Section 80) Deductions will help you save tax. Income Tax Act allows the deduction to taxpayers for certain tax-deductible investments/expenses. For eg. Investment in PPF, ELSS, National Pension Scheme etc. And expenses like a life insurance premium, medical insurance premium, higher education loan etc. are allowed as a deduction under a chapter VI-A. Keep your investment documents/payment receipts handy while filing the return.

Step 4: Check your Tax Credit Statement – Form 26AS:

Form 26AS is a tax credit statement. It contains details of self-assessment/advance tax deposited by you as well as TDS deducted and deposited by others on your income. It is important to go through Form 26AS and make sure that you are not missing out on any tax credits while filing your IT return.

How to view or download Form 26AS?

Step 5: Pay Tax Dues:

After adding all the taxable incomes for a particular year and claiming all eligible deductions and considering all TDS credits, If there are tax dues then pay the same to the IT Department. Enter the tax payment details in IT Return. This tax is known as Self Assessment Tax.  Remember to pay tax dues before filing your return otherwise, your return will be considered as a defective return.

In case you have paid excess tax during the financial year, you can claim a tax refund while filing your ITR.

Step 6: File your Income Tax Return:

Now you are all set to file your tax return. You can file your tax return online with Quicko in a jiffy. It is the easiest way to file your return without any hassle.

How to e-file income tax return using income tax website

It is important that you file your income tax return before the due date to avoid penalties and non-compliance.

FAQs

1. Can I file my Income Tax Return (ITR) without Form 16?

Form 16 is an important document for salaried employees to file their annual ITR. However, salaried employees can file their returns even without a Form 16.

2. Is Form 16 mandatory for non-taxable income?

Form 16 has 2 parts; Form 16A and Form 16B. Part A can be downloaded from the TRACES portal and it shows the total amount paid and TDS deposited on your behalf. Part B contains information about your salary calculation. Even if your TDS is not deducted, you can receive Form 16 Part B which is equally important and can be used as form 16.

3. Who are eligible for Form 16?

As per the rules and regulations issued by the Finance Ministry of the Indian Government, every salaried individual who comes under the taxable bracket is eligible for the Form 16 which means that if your gross total income exceeds INR 2.5 Lakhs, you need to pay tax and you are eligible for the Form 16