You can file your ITR without Form 16 | Fusion - WeRIndia

The deadline to file the income tax returns has been extended by the income tax department mainly due to several taxpayers have not received Form 16 from their employers.

However, you can file your ITR even if you have not received your Form 16 from your employer.

Form 16 provides the details of TDS deducted from salary by your employer.

Here is a detailed procedure of how you can file your income tax returns without Form 16:

• Since you do not have your Form 16, collect all your monthly payslips to calculate the breakup of your salary including allowances. If you have changed job in the previous financial year, then keep the details of your previous employer and the salary slips you received from him ready.
• The standard deduction for the FY 2018-19 is ₹40,000 on a salary income. So, you can claim it against your salary in addition to the professional tax.
• Even if you missed providing rent receipts to your employer, you can claim HRA exemption at the time of filing tax returns.
• If you have any other income like interest from savings bank account etc., you have to specify it in the income from other sources category.
• If you are paying interest on a home loan, you can claim that deduction which is a maximum of ₹2 lakh. For this, you have to submit a housing loan certificate from your lender.
• If you have any income from house property, show it in the specific category.
• You are allowed a deduction of up to ₹1.5 lakh per year on various investments.
• Now, download, Form 26AS from TRACES website. Compare TDS with the calculated amount as per your payslips.
• Based on that, if you have more credit, you can claim a refund or else pay the tax. Then file your ITR.

Image Credit : Nick Youngson CC BY-SA 3.0 ImageCreator

Image Reference: https://www.thebluediamondgallery.com/typewriter/i/income-tax-return.html