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How can I file my IT return without Form 16? (in India)

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 preetham asked about 3 years ago

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6 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Anil Dhawan answered over 2 years ago

The statement of particulars given in Form No. 3CD as annexure to the audit report contains thirty two clauses and an Annexure consisting of Part A & B. The tax auditor has to report whether the particulars are true and correct. This Form is a statement of particulars required to be furnished under section 44AB. The same is to be annexed to the reports in Forms No. 3CA and 3CB in respect of a person who carries on business or profession and whose accounts have been audited under any other law and in respect of person who carries on business or profession but who is not required by or under any other law to get his accounts audited respectively.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 acharya answered over 2 years ago

An employee receives many types of allowances in the form of salary while some allowances such as conveyance allowance, medical allowance, HRA, etc. are exempt from income tax while dearness allowance is completely taxable. Hence, the IT Department allows you to deduct the exempt allowances from salary to arrive at the figure of taxable salary. Since you have not received form 16 from your employer, you must verify Form 26AS to know about the TAN and TDS deducted by your Employer If you have other income as well apart from salary then sum up all the income like Income from renting of House property , capital gains from sale of assets , income from other sources like interest on bank deposits, RDs, FDs etc. Deduct tax benefit from the above computed income like investments made under NSC, LIC, tuition fees, PPF, and repayment of principal of housing loan under section 80C. Similarly, donations made to charitable institutions can be claimed under section 80G, and payment made towards premium of medical insurance policy can be claimed in section 80D.

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Open uri20170510 32134 ng4pv?1494421709 SONIYA answered about 3 years ago

**To file income tax return without Form 16** you need to collect your monthly salary slip and compute total salary for the year. **Note:** The amount credited in your bank statement is after deducting the tax at source but for reporting in ITR you need to calculate Gross Salary. An employee receives many types of allowances in the form of salary while some allowances such as conveyance allowance, medical allowance, HRA, etc. are exempt from income tax while dearness allowance is completely taxable. Hence, the IT Department allows you to deduct the exempt allowances from salary to arrive at the figure of taxable salary. Since you have not received form 16 from your employer, you must verify Form 26AS to know about the TAN and TDS deducted by your Employer If you have other income as well apart from salary then sum up all the income like Income from renting of House property , capital gains from sale of assets , income from other sources like interest on bank deposits, RDs, FDs etc. Deduct tax benefit from the above computed income like investments made under NSC, LIC, tuition fees, PPF, and repayment of principal of housing loan under section 80C. Similarly, donations made to charitable institutions can be claimed under section 80G, and payment made towards premium of medical insurance policy can be claimed in section 80D. After summing up all income and deducting the tax benefits , the resultant computation will be taxable income. Now, calculate income tax on this taxable income using the IT slab rates for financial year 2014-15. Now you are all set for filing tax return. You can now visit the online tax filing site to file your INCOME TAX RETURN **WARNING** It is always advisable to file salary return on the basis of Form 16. Firstly, Form 16 acts as a check for you to verify whether your employer has deposited the whole amount of TDS that he may have deducted from your salary. Secondly, it will enable you to file Income tax return disclosing the correct taxable income and various deductions from your salary like EPF, Profession tax and TDS. Further, it is the obligation of the employer to provide a Form 16 to all employees by 31 May of the assessment year (AY), otherwise, the employer can be liable to pay a penalty of Rs. 100 for each day by which he delays issuance of this certificate.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 3 years ago

You have to wait for the form-16 to file the returns correctly. Incorrect filing of tax returns may cause unwanted trouble for you. So it would be a good idea to check with your employer and request them to give you the form 16 quickly. visit [CAKART provides the best video Lecture and Online classes, coaching for Chartered Accountant CA FINAL, CA Intermediate | CA IPCC, CA Foundation | CA CPT Exams; Company Secretary CS FINAL] to avail discount use my ambassador code :CAKARTAMB1671782 for more article visit https://www.cakart.in/blog http://cakart.in

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Open uri20170510 32134 1et5ppw?1494421765 abhishek answered about 3 years ago

Dear preetham, . You can use your Form 26AS to fill your ITR in place of Form 16.Form 26AS is the statement of all TDS from any kind of your income,whether it be salary or any other income like interest on bank FD etc. . . Use the following link to download your form 26AS. https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?nextPage=taxCred

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Picsjoin 2017224123730582 Archana answered about 3 years ago

Hie Preetham, You can file your IT Return without Form 16 as follows :- Things to consider: 1. Part-A of the Form-16 (that is the TDS deducted by the employer) can be obtained from the TRACES website (the official government website): TRACES | Home There is no cost in obtaining this Form-16 Part-A. You can also review your Form-26AS which also has the information about your Form-16 deductions -- Guide to obtaining your Form-26AS is here: ClearTax: How to view your Tax Credit Statement? | Viewing your Form 26AS To understand what is Part-A and what is Part-B -- refer this guide: ClearTax: Understanding Your Form-16 2. The employer is mandated to provide you with a Form-16 (both Part-A and Part-B). If you write to the finance department of the organisation you worked for, they will provide you with the form-16. In my experience, some people are reluctant to obtain a form-16 after they have left the previous employer or in some cases, when the previous employer is not on great terms after the departure. In any case, the employer is mandated by the I-T Department to provide you with a form-16 after TDS, so no matter what, you can ask for it (don't hesitate). 3. In some cases, the employer does not have the Form-16 Part-B available due to tardiness of the finance department. While this is unacceptable, you may have to do compliance (of filing your Income Tax Return) to meet the deadline. In this case, you will have to make a "reverse" calculation or an estimate of your taxable salary. This is not a desirable thing to do. However given the situation of a lack of Form-16, you make a calculation of your taxable salary using pay-slips (and then calculating net salary you received). With this number, you can then file your tax return.

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