ITR File: Filing of Income Tax Return is one of the most important tasks for every citizen in India. Using Form 16 for employees in the country is an essential part of filing tax returns.
Form 16 is provided by the employer, and serves as a document for income and tax deductions. Sometimes many companies may take a lot of time to provide their Form 16 to the employees, but the absence of this document should not prevent taxpayers from completing their tax tasks.
In such a situation, if you have not yet received Form 16 for filing tax, then you can file ITR without Form 16 as well. You can file ITR by collecting income-related documents like salary slips, bank details, interest certificates, and rent income receipts. These documents will facilitate accurate calculation of total income from various sources. Make sure that no detail of all the income earned during the financial year should remain incomplete.
First of all, identify the deductions and exemptions for which you are eligible under the Indian Income Tax Act. Such deductions can include insurance premium, contribution to provident fund and home loan payment etc. Check supporting documents to find out applicable deductions.
Form 26AS will be available online
Access Form 26AS, which is available on the e-filing website of the Income Tax Department. Presents a comprehensive overview of tax credits and taxes paid as recorded. Thoroughly verify the accuracy of tax deducted by employers and other entities, ensuring that no tax credits have been inadvertently overlooked.
Use the Income Tax Filing Portal
Use the online income tax filing portal offered by the Income Tax Department to file tax returns. The customer friendly interface will guide you through the form filling process and assist in entering accurate information. While declaring income, be careful and transparent, relying on available documents and computed figures.
Pay special attention to this
It is very important to maintain a record of supporting documents including salary slips, bank details and investment proofs for filing income tax returns. These documents may have to be produced for verification purposes by the tax department in future. Retain a copy of the tax return application for reference and record keeping. So that there is no problem in future. Individuals who are facing problems can take help from tax professionals or chartered accountants.
