Only two weeks are left to filling ITR for the FY 2015-16 and AY 2016-17. If your tax is deducted on different source of income you have to give information in the tax return. Lot of person does not submit his ITR due to not received his Form 16. But there is no need to worry you can easily file ITR return Without ITR form 16.
As per the Income tax department Form 16 is a certificate which is issued by the employer. It certifies that employer has deducted TDS has on your salary. If any employer deducts TDS on salary, he is responsible to issue Income tax Form 16 to his employee.
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Can I File ITR return Without ITR Form 16 ?
Normally Form 16 is a certificate which is issued by employer to employee. It shows your income and tax deduction detail. Form 16 is used for the salaried individuals. Form 16 helps you to provide information of your annual income, investment, and tax paid detail which is used to filing your ITR.
If your company has not yet provide ITR FORM 16 due to any reason than don’t worry you have to file your ITR return without any problem. You can attach salary slip, FORM 26AS, TDS Certificate and other documents. It helps you to file your income tax return up to the due date.
As per the Income tax department each company is liable to give ITR Form 16 to his employees. The last date to issue ITR Form 16 is 31st May. If any company is not able to issue ITR Form 16 to his employees then company has to pay fine Rs.100 per day. You have to submit ITR Form 16 and attach other related documents during filing your tax return.
If you still not received ITR Form 16 then there is no need to worry you can easily calculate your tax liability with the help of salary slip. Salary slip helps you to easily deduct HRA, LTA and other investment of part B calculate your taxable income. If you are eligible to file your ITR return by ITR Form 2, 2A or 4 then you can check the CTC breakup in your appointment letter. You can also attach TDS detail which is received from bank, capital gain, rental income, etc.
Before submit your ITR return without absence of FORM 16 you must have to cross check all TDS, income source, investment proof like insurance premium, PPF, Tutuion fees, EPF and other details. Normally Form 26AS has all the related information about the TDS. If Form 26AS and your ITR both has little bit difference then Income tax department send the notice to you. The information mentioned in ITR return is matched with Form 26AS . You can also have proof of all income, deduction and investment source. You can easily file your ITR return without ITR Form 16.
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Now, please hurry all those salaried individual who are waiting for his Form 16. There is not much enough time to wait for FORM 16 because you can file ITR return Without ITR Form 16. You have to submit your ITR return with annual income, investment and deductions proofs.