The fiscal year 2023–2024 has begun. The time for filing income tax returns has now returned in this circumstance. In India, salaried students frequently submit ITRs using Form 16. However, many people also file an income tax return without it. Such a document is Form 16, which can be used to acquire an account of the employee's taxable income. It has frequently been observed that certain employees' salaries do not qualify as taxable income. In this case, the business does not issue Form 16 on their behalf. In this situation, you may also file an ITR without Form 16.
What is Form 16?
When paying income taxes, Form 16 is crucial. This document contains a complete accounting of the person's income. This provides information on the overall amount of money spent by the individual. The financial year also includes information on TDS and the amount of tax deducted. This also includes a record of your investments and other information.
ITR can be filed through Form 26AS.
If you do not have Form 16, Form 26AS can be used to obtain information about your TDS and TCS. This form details the person's high-value transactions and advances tax. In addition, you must have a pay slip, an HRA slip, and evidence of investments made by Sections 80C and 80D of the Internal Revenue Code. For example, you must deposit documentation showing your home loan. After that, filing your incometax return without using Form 16 will be simple.
How to download Form 26AS?
>> You can download Form 26AS from the Income Tax website if your salary is not subject to income tax, but you still want to complete an ITR.
>> To do this, go to www incometax gov in and click on the e-file portal.
>> Then, when you see the My Account option, select the link to View Form 26AS.
>> Select the assessment year in it. After that, then click View Time.
>> Afterward, this form will be downloaded when you select the download option.