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HomePersonal FinanceForm-16: Before filing ITR, do not forget to check these things in...

Form-16: Before filing ITR, do not forget to check these things in Form-16, read full details

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The most important document for a salaried person while filing ITR 2023-24 income tax return is Form-16. Without this, the return cannot be filed. However, taxpayers need to be very cautious while filing returns. Today we will tell you what things a taxpayer must check while filing returns.

The last date for filing Income Tax Return (ITR) is about to come. In such a situation, all taxpayers should file ITR within time to avoid late filing and penalty. If you are a salaried taxpayer, then you must check the information given in Form-16 before filing the return ( ITR Filing ).Let us tell you that Form-16 is a very important document for salaried taxpayers. ITR cannot be filed without it. Today we will tell you what taxpayers should check in Form-16, before that let us know what information is included in Form-16.

This information is in Form-16

  • Taxpayers Gross Income
  • Net income details
  • Information about TDS

Please check this information

Taxpayers should check the TDS data given in Form-16. Many types of taxes are deducted by the company from the employer’s salary. Form-16 contains information about how much tax or TDS the company has deducted from the employee’s salary in the whole year.

The TDS data in Form-16 should be cross checked with Form 26AS and Annual Information Statement (AIS). The details in both these forms should match. If there is a mismatch, the salaried person should not file the return.

Form-16 has incorrect information

If the taxpayer feels that any details in Form-16 are incorrect, then he should not file the return. Actually, if you file ITR with wrong information, then there is a risk of the return being defective. Apart from this, if there is any wrong information, then a notice can also be sent by the Income Tax Department.

On the other hand, if the taxpayer has changed his job, then he must take Form-16 from his company. After this, you should check the data of Form-16 given by the old company and the new company.

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Sunil Kumar
Sunil Kumar
Sunil Sharma has 3 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done B.Com in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @sunil.izone@gmail.com
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