ITR Filing: If you are also employed, then you will need Form-16 to file ITR. The last date for filing income tax return, 31 July, is also fast approaching. Let us tell you that Form-16 is given to you by the HR of your company, which contains all the information about how much you have earned and how much tax is levied on you. This makes it very easy for you to fill the Income Tax Return, rather say that it becomes a piece of cake. But can ITR be filled without Form-16? Let us know how to fill ITR without Form-16 if you are unable to get Form-16 for some reason.
Submit all the documents
If you do not have Form-16, first of all you will have to submit all your documents. These will require things like salary slip, bank statement, investment proof, rent receipt etc. This will let you know what your gross salary is and where you have invested. After submitting these, write down the amount of each one somewhere, so that you do not have to look at every document while filing ITR.
Calculate TDS
For the calculation of TDS on your salary, you can see Form 26AS. It contains information about the TDS imposed on your salary. With this, you can ensure whether the amount of tax shown in your salary slip matches with Form 26AS or not.
Check deductions and find out tax liability
Take out all the deductions you get like house rent allowance, medical allowance, investments under 80C and all investments and deduct it from your salary. Along with this, every employed person also gets a standard deduction of Rs 50,000, so deduct that from the salary as well. After doing all these things, you will know the tax.
Tax calculation and submission
After doing all this, your taxable income will appear in front of you. While filing ITR, the tax applicable on your taxable income will be revealed. Here you will know whether your tax liability is being created or you have to get some refund.
Do not forget to e-verify ITR
While filing ITR, many times people forget to e-verify it. Due to this, their refund gets stuck and they complain about it to the Income Tax Department. After filing ITR, you can get it e-verified in 6 ways. One way is through Aadhaar OTP. In this, you will get an OTP on the mobile number registered with Aadhaar, which will be e-verified as soon as you enter it. Apart from this, you can also e-verify ITR from your pre-validated bank account, demat account, ATM, net banking or digital signature certificate.
