Mumbai, March 27: If you are looking forward to filing your Income Tax Return (ITR), Form 16 is one of the most essential documents, especially for salaried individuals. It is a TDS certificate that provides details of your salary, allowances, and other benefits received from your employer during the financial year. Additionally, it mentions the tax deducted from your salary, ensuring accurate tax filing and compliance.
Form 16 is a TDS certificate provided by employers before June 15th of the following financial year, detailing the salary earned and the tax deducted. If you have changed jobs during the financial year, you must collect Form 16 from each employer. For salaried individuals, Form 16 is an essential document for tax filing and compliance. How To File ITR Using Form 16: Step-by-Step Guide To Ensure Error Free Last-Minute Income Tax Returns Filing.
When Is Form 16 Issued?
For the financial year 2024-25, employers must issue Form 16 by June 15, 2025, if they have deducted TDS from an employee’s salary between April 2024 and March 2025. In case you misplace Form 16, you can request a duplicate copy from your employer before the last date to file ITR i.e. July 31. If an employer fails to issue Form 16 on time, they may face a penalty of INR 100 per day for the delay until the document is provided. Donation by Employees to PM CARES Fund Through Employer to Reflect in Form 16 TDS Certificate: Income Tax Department.
Can I File ITR Without Form 16?
Yes, you can file your ITR without Form 16. However, to ensure accurate tax filing, you will need to manually report your income using salary slips, bank statements, and other relevant documents.
(The above story first appeared on Today News 24 on Mar 27, 2025 01:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
