Income Tax Return: As the new financial year 2023-24 begins, it is time for salaried individuals to file their Income Tax Return (ITR) in India. Although Form 16 is generally used by the salaried class to file ITR, it is not always necessary.
Form 16 provides a comprehensive account of the taxable income of the employee, but some employees cannot obtain it if their salary does not come under taxable income. In such cases ITR can be filed even without Form 16.
Understand Form 16
Form 16 is an important document for filing income tax return as it provides the complete income of the individual, details of deductions, TDS information and details of investments.
Filing ITR with Form 26AS
Individuals who do not have Form 16 can get information about their TDS and TCS from Form 26AS. This form provides information regarding advance tax payment, high value transactions and other relevant details. In order to file ITR without Form 16, individuals will need their salary slip, HRA slip, proof of investment under Section 80C and 80D of the Income Tax Act, as well as proof of home loan payment.
Download Form 26AS
To download Form 26AS, individuals who want to file ITR but do not receive taxable salary can visit the Income Tax website and click on e-file portal. From there select My Account option and click on View Form 26AS link. After that select the assessment year and click on the view time button. Finally click on the download option and the form will be downloaded.
