Understanding Income Tax Returns: Filing ITR Without Form 16
The income tax return (ITR) filing season for the financial year 2025-26 has commenced, prompting taxpayers to prepare necessary documentation. Before accessing the income tax portal, individuals should gather essential documents such as Form 16, Form 26AS, and the Annual Information Statement (AIS) to ensure accurate filing. Form 16, particularly important for salaried taxpayers, serves as a certificate confirming salary payments, tax deductions, and tax deposits made by employers.
Importance of Form 16 for ITR Filing
Form 16 is crucial for simplifying the ITR filing process. Siddharth Deb, Tax Partner at EY India, emphasizes that waiting for Form 16 can make filing quicker and reduce the chances of discrepancies. While employers must issue Form 16 when tax is deducted from salary, taxpayers can still file their returns without it by reconciling salary and tax details using alternative records such as Form 26AS and AIS.
Form 16 consists of two parts: Part A includes identification and TDS details, while Part B outlines salary breakdowns, exemptions, deductions, and final tax computations. Additional details regarding perquisites may be included in Form 12BA if applicable.
What to Do If Form 16 Is Not Issued
Employers are required to provide Form 16 by June 15, 2026, for the financial year 2025-26. Failure to issue this form on time may result in a penalty of Rs 500 per day for the employer. If taxpayers do not receive Form 16, they can still prepare their ITR using salary slips, bank statements, Form 26AS, and the AIS. These documents are typically sufficient for calculating salary income and verifying tax credits.
Siddharth Deb advises taxpayers to ensure that the tax deducted by the employer is accurately reflected in Form 26AS or AIS. If discrepancies arise, individuals should promptly contact their HR or payroll departments for corrections. Additionally, those who changed jobs during the year must consolidate salary information from all employers to avoid tax shortfalls during ITR filing.
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