If you are a salaried employee you must be wondering what is Form 16 and why is it so important and what if you don’t have it? I am going to tell you everything about it and I will also answer your question Can I file ITR without Form 16. But first let us start with the basics.
What is Form 16?Form 16 is issued by the employer to a salaried employee. Under section 203 of Income Tax, TDS is deducted by the employer and submitted to the Income Tax department. The form 16 comes in handy for employees at the time of filing ITR as it is a testimony of your income, deductions and claims.
Can we file ITR without form 16?If your employer doesn’t issue Form 16, then it is most likely that no deductions were made. This is usually the case with people who do not fall in the tax bracket. But what if you want to file ITR?
Well, you CAN file ITR without form 16. You just need to know each and every detail about your income sources, deductions (if any) and claims. While calculating all of this, you must not forget to make computations based on salary earned during the financial year, income from pension or sale of any capital gain asset, PF, HRA, etc.
Here is the complete guide on how to file ITR without form 16.I hope your query can I file ITR without form 16 is resolved now.
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Can I file ITR without form 16?
Jithin
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2021-09-15T11:55:00+00:00 2021-09-15T15:53:18+00:00Comment
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