As the new fiscal year 2023-24 begins, salaried persons in India must file income tax returns (ITR). Salaried people typically use Form 16 to file ITR, however, it is not always required. Form 16 offers a detailed record of an employee’s taxable income, although some employees may only get it if their salary qualifies as taxable income. In certain circumstances, an ITR can be submitted without Form 16.
What is Form 16?
Form 16 is a significant document for submitting income tax returns since it covers the individual’s total income, deductions, TDS information, and investments.
Filing Income Tax Return with Form 26AS
Individuals who do not have Form 16 can acquire TDS and TCS information via Form 26AS. This form contains information about advance tax payments, high-value transactions, and other pertinent facts. Individuals will also need their income slip, HRA slip, proof of investment under Sections 80C and 80D of the Income Tax Act, and proof of house loan payments to submit ITR without Form 16.
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How to download Form26AS?
Individuals who wish to submit an ITR but do not receive a taxable wage can follow the below-mentioned steps to file their income tax return.
- Visit the Income Tax website
- Click on the e-file portal to get Form 26AS
- Select the My Account option
- Then click on the View Form 26AS link
- Then, choose the assessment year and press the View Time button
- Finally, select the download option to download the form
Also Read:
All the Basics You Need to Know About Income Tax Return
