While the Income Tax Return filing season for AY 2023-24 has already begun, taxpayers have been instructed to file their returns (ITR) as early as possible, considering the last due date i.e., 31 July. Completing the ITR filing beforehand will not only save you from a last-minute rush but will also make the refund processing faster. Speaking of which, while Form 16 is essential, a lot of companies don’t issue the same to their employees. Salaried employees essentially require Form 16 to complete their ITR filing process, while it can be also done through ITR-1 (for salaried employees and senior citizens) and ITR-4 (unsalaried individuals, HUFs, and firms having total incomes up to Rs 50 lakh).
Wondering if you can file ITR without Form 16? Well, there is scope for that. Read on
Can you file ITR without Form 16?
Taxpayers can use both the online and offline facilities to file their ITR before the due date. People must check the tax slab that he/she comes under and further consolidate all their payslips to calculate their taxable income.
Speaking of which, without Form 16, taxpayers must have their salary slips along with Form 26AS, which is issued by the income tax department. One can also download it from the TRACES website or via the net banking facility of their authorised bank.
About Form 26AS
As per the statement issued by the income tax department, Form 26AS shows various necessary details including Tax Deducted/Collected at Source, Advance Tax/Self-Assessment Tax, Specified Financial Transactions Demand/ Refund Pending/ Completed Proceedings among others as per the ITD's database.
On the other hand, employees who have already received Form 16 from their organisations can follow the given steps to file their ITR.
How to file ITR with Form 16?
1. Before filing your income tax returns, you need all the necessary documents including Form 16, a copy of your PAN and Aadhaar card, and bank statements, among others.
2. You need to have an account on the Income Tax e-filing portal.
3. Login into your account and go to the e-File section.
4. Find the option of 'Income Tax Return' and click on it.
5. On the basis of your income and other factors, choose the appropriate form.
6. Once the form appears on the screen, enter all the required personal and professional details including income and tax payments.
7. Validate and submit your form.
8. After submitting your returns, e-verify them through Aadhaar OTP or other available options.
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