Form 16: Salary class taxpayers usually file their Income Tax Return (ITR) on the basis of Form 16 received from their employers or company. Form 16/16A also contains information about Tax Deducted at Source (TDS) deducted by the employer on behalf of his employees.
Form 16 is generally issued by the employers by first 15 days of June as the last date for filing TDS for the quarter ending 31st March is 31st May and the employers are required to issue Form 16 within 15 days from the filing of such return. is required to do.
When should you file ITR this year?
Tax expert says that salaried class should file return after getting Form 16. The last date to file ITR for assessment year 2023-24 is 31 July 2023. Salary class can start filing income tax return from June 15. Salary class will be able to download their Form 16/16A by June 15 and will be able to file their returns for Assessment Year 2022-23 (FY 2022-23) accordingly.
This information is available in Form 16
The previous financial year is over and taxpayers have to file their income tax returns for the previous financial year by July 31. If you are employed then you will need Form 16 (Form 16) to fill ITR. Companies have to give Form 16 to their employees by June 15. Form 16 contains information about your total income, taxable income, investment and tax deducted (TDS) in the last financial year.
