As per the applicable income tax laws, every individual whose income crosses the basic exemption limit (Rs. 2,50,000 in the case of the old regime and Rs. 3,00,000 in the case of the new regime) must file an Income Tax Return (ITR).
Most salaried employees use “Form 16” to file their ITR. This form shows details of your salary, tax deductions, and taxes paid on your behalf (TDS). By using this document, you can easily file your return, as it contains all necessary income and tax details.
But can you file your ITR without Form 16? Recently, some cases have been observed where employees are unable to obtain Form 16 from their employers. Such employees can still file their returns by using other documents such as salary slips, bank statements, and Form 26AS. Let’s see how.
7 steps to file your ITR without Form 16
Below are 7 simple steps you can follow to file your ITR without Form 16:
Step I: Collect your pay slips
If you don’t have Form 16, your salary slips can help. These slips show you:
- Salary breakdown
- Taxable income, and
- Other details needed for filing your ITR
Try to compile all your pay slips for the fiscal year starting from April 1st and ending on March 31st.
Step II: Download Form 26AS
Form 26AS is a tax statement that shows all the tax deducted (TDS) from your income. Using this statement, you can check:
- How much TDS was deducted from your salary?
- How much interest have you earned from FDs with banks and NBFCs?
- What are the other sources from where you have earned income?
Form 26AS is available on the official Income Tax website without any charge. You can download it after logging into the online portal.
Step III: Calculate your deductions
If you are filing your ITR under the old regime of Income Tax, you can still claim several expenses or investments as deductions, such as:
- Rent paid
- Donations
- Investments under Section 80C (like LIC, PPF, or ELSS funds)
Using these deductions, you can lower your tax liability. However, it is important to keep proof of these deductions as sometimes the income tax department calls them for verification purposes. Along with them, keep invoices of all your high-ticket purchases made from online marketplaces or offline stores.
Step IV: Identify income from all your sources
Identify all the incomes you have earned during the year, like:
- Salary income
- Rent from a property
- Profits from shares or mutual funds
- Income from selling an asset and more
Add all these incomes and subtract the deductions you are claiming in Step III. Now, compute your total taxable income. You can use any spreadsheet, like MS Excel, for data entry and perform these basic calculations.
Step V: Calculate tax payable
After calculating your total income and deductions, check if you’ve already paid more tax. In such cases, you can expect an income tax refund. Otherwise, you will be required to make the payment of your outstanding income tax liability.
Step VI: Choose the right ITR form
Be aware that your income type and sources determine which ITR form to use. For example:
- ITR-1 (Sahaj) suits salaried individuals with:
- Income from one house property or other sources (excluding lottery/ racehorse winnings)
and
- Agricultural income up to Rs. 5,000
- ITR-2 applies to individuals or HUFs with:
- Capital gains
- Foreign assets
- Agricultural income exceeding Rs. 5,000.
Understand these distinctions and choose the correct form. This helps you to remain compliant.
Step VII: File your ITR
Finally, after making all the rough calculations in a spreadsheet and choosing your ITR form, visit the income tax website. Here log in and select the appropriate form. Fill in all the details accurately and submit your ITR online.
After filing, e-verify your ITR within 30 days to complete the process. E-verification can be done online using methods like:
- Aadhaar OTP
- Net banking
- By sending a physical signed copy of your ITR acknowledgement reciept to the Income Tax Department.
Conclusion
Even without a Form 16, you can file your ITR online. To begin with, gather all your pay slips and download Form 26AS from the official Income Tax website. Use these documents to identify income from all your sources. Next, calculate your deductions (if filing under the old regime) and choose the correct ITR form based on your income type.
Lastly, file your return accurately on the Income Tax portal. Don’t forget to e-verify your return within 30 days.