No Form 16? File ITR using AIS and Form 26AS
What is Form 16 and who receives it? What if you do not receive Form 16 from your employer? Contact your HR or employer and
What is Form 16 and who receives it? What if you do not receive Form 16 from your employer? Contact your HR or employer and request it. Use your salary slips, bank statements, AIS, and Form 26AS to calculate your income and taxes. Check Form 26AS to ensure that the TDS deducted by your employer has been deposited with the government. How to download Annual Information Statement (AIS) online? After logging in with valid credentials (PAN and password), navigate to Services → AIS. Select the applicable financial year and choose to either view the statement online or download it in PDF or JSON format. Log in to the e-Filing portal. Go to e-File → Income Tax Returns → View Form 26AS. You will be redirected to the TRACES portal. Accept the terms and conditions. Select the relevant assessment year. View or download Form 26AS in PDF format. What is the password required to open the AIS PDF? How to verify AIS details before filing your ITR As the Income Tax Return (ITR) filing season kicks off, a lot of salaried taxpayers may have already received their Form 16. However, some employees might still be waiting for their Form 16 from their employers. So what should you do if your employer has not issued it yet?Here's everything you need to know about Form 16, whether you can file your ITR without it, and how to download and use AIS and Form 26AS to verify your income and tax details.Form 16 is a certificate issued by an employer that shows your salary income and the tax deducted (TDS) from it during the financial year.“It serves as documentary evidence of salary income paid, exemptions claimed under Section 10, standard deduction, deductions under Chapter VI-A, taxable salary computed, tax deducted at source, and the corresponding remittance to the Government,” says CA Hitesh Jain, Partner, Direct Tax, N.
A. Shah Associates LLP.Form 16 comprises two parts: Part A, which contains employer and employee particulars, TAN, PAN, period of employment, and quarterly TDS summary as per TRACES data; and Part B, which is an annexure reflecting a detailed breakup of salary, exemptions, deductions, and tax computation, he adds.It needs to be issued only where TDS has been deducted from salary. “If TDS is not deductible or not deducted, the employer is not under any statutory obligation to issue Form 16,” says Rahul Charkha, Partner, Economic Laws Practice. However, as a good practice, certain employers still issue Form 16 to their employees even if no TDS is deducted.For a given financial year, the employer must issue Form 16 on or before 15 June of the immediately following financial year, he adds.The responsibility to issue Form 16 lies with the employer. While Form 16 helps you file your ITR, it is not mandatory. But even if Form 16 has not been received despite TDS being deducted, taxpayers can still file their income tax return.According to CA Abhishek Soni, CEO, Tax2win, if your employer has not provided Form 16:TDS credit must be independently verified from Form 26AS, Annual Information Statement (AIS), and the Taxpayer Information Summary (TIS) available on the e-Filing portal before filing the return.“Where TDS has been deducted but is not reflected in these statements, the employee should immediately request the employer to verify PAN mapping, file or revise the relevant quarterly TDS return (Form 24Q), and ensure that correct credit is reported on TRACES.
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