Income Tax Form 16: Form 16 is a document that is given by your company or the place where you work. It is written in it that how much tax was deducted from your salary and how much was deposited to the government.
Income Tax Form 16 : Form 16 is a document that is given by your company or where you work. It is written in it that how much tax was deducted from your salary and how much was deposited to the government. This document is very useful for those who want to file Income Tax Return (ITR).
Can ITR be filed without Form 16?
Yes, it is definitely possible. If you do not have Form 16, then there is no need to worry. You can also fill ITR with the help of your salary slip, bank statement, Form 26AS and AIS. Just keep in mind that whatever information you fill, it should be correct.
Can we download our Form 16 ourselves?
No. You cannot generate Form 16 from your PAN number. Only the company can download it and send it to you. So contact your office or HR to get Form 16.
When will I get Form 16?
Every year by 15 June, the company has to give Form 16 to its employees. Before this, the company informs the government about how much tax has been deducted from whom. Only after that Form 16 is prepared.
Who gets Form 16?
Only the person from whose salary tax is deducted will get Form 16. If tax is not due on your income, then the company will not deduct TDS and will not give Form 16. In the new tax system, people having income up to ₹ 7 lakh do not have to pay tax. In the old tax system, tax is not due up to ₹ 5 lakh. Therefore, if your tax is not deducted, then you will not get Form 16 either.
What is the password to open Form 16?
- When Form 16 comes in the mail, that file is opened with a password. It usually has a password.
- Your PAN number (in small or capital letters),
- or date of birth (eg – 01011990),
- Or a combination of both.
- The password information is given in the mail sent with Form 16, you can check it there.
What to keep in mind in the end?
- If you have got Form 16 then it will be easy to file ITR.
- Even if you have not received it, do not panic – ITR can be filed with other documents also.
- If there is any problem, seek help from a tax expert or nearest CSC center.
