How to File Income Tax Without Form 16? [July 2024]

Filing your income tax return without Form 16 can seem challenging, but it's entirely possible with the right information. This guide will walk you through the steps to file your income tax online in July 2024, even if you don't have Form 16.

What is Form 16 and Why Might You Not Have It?

Form 16 is a certificate issued by employers showing the TDS deducted from your salary. If you're a freelancer, have switched jobs, or your employer hasn't provided it, you might need to file your taxes without this form.

Step-by-Step Guide to File Income Tax Without Form 16

Step 1: Gather Your Documents for ITR

Before you begin, ensure you have the following:

• PAN Card: Ensure your PAN card is active.
• Aadhar Card: Link your PAN with Aadhar if not already done.
• Bank Statements: To track your income and deductions.
• Investment Proofs: For deductions under various sections.
• Form 26AS: For details of tax deducted at source (TDS).

Step 2: Register on the Income Tax Portal

1. Visit: Go to incometax.gov.in.
2. Register: Click on ‘Register’ and enter your PAN card details. Your PAN will serve as your user ID.
3. Fill Details: Provide your name, date of birth, and contact details as per your PAN card.
4. Verification: Verify your account through the OTP sent to your registered mobile number and email.

Step 3: Link PAN with Aadhar

1. Login: Log in to the income tax portal.
2. Link Aadhar: Go to ‘Profile Settings’ and click on ‘Link Aadhar’. Enter your Aadhar number and name as per Aadhar.
3. Submit: Verify the details and submit. Linking PAN with Aadhar is crucial for income tax filing in 2024.

Step 4: Download Form 26AS

1. Navigate: Go to the ‘My Account’ section and click on ‘View Form 26AS’.
2. Download: Download Form 26AS to check the details of tax deducted and deposited against your PAN.

Step 5: Calculate Your Income

1. Bank Statements: Sum up all credits to your bank account to estimate your total income.
2. Other Income Sources: Include any other income like interest, rent, or freelance work.
3. Income Tax Calculator: Use an online income tax calculator to estimate your tax liability.

Step 6: Fill in the Income Tax Return Form

1. Choose Form: Select the appropriate ITR form based on your income sources (ITR-1 for salaried individuals with other income).
2. Fill Details: Enter your personal information, income details, and applicable deductions.
3. Validate: Use the portal’s validation tool to check for errors.

Step 7: Upload Documents and Submit

1. Upload: Attach the necessary documents such as bank statements, Form 26AS, and investment proofs.
2. E-Pay Tax: If you have any outstanding tax liability, pay it using the ‘e-pay tax’ option.
3. Submit: Review all the details and submit your return.

Step 8: Verify Your Return

1. E-Verification: After submitting your return, you need to verify it. You can e-verify through Aadhaar OTP, net banking, or by sending a signed copy of ITR-V to CPC, Bengaluru.
2. Confirmation: Once verified, you will receive a confirmation message on your registered email and mobile number.

Conclusion

Filing your income tax return without Form 16 is entirely feasible if you follow these steps. Ensure you gather all necessary documents, use an income tax calculator to estimate your liabilities, and link your PAN with Aadhar for a smooth filing process. Stay updated with the income tax slabs for FY 23-24 and FY 24-25 to ensure accurate filing.

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Author - Abhishek Sonawane

Abhishek Sonawane, an MBA graduate from the prestigious Indian Institute of Management Visakhapatnam(IIMV), brings over ten years of experience in the finance domain. His extensive background includes various roles in financial management and strategy, providing him with a comprehensive understanding of the financial landscape. Abhishek’s expertise and dedication to financial education make him an authoritative voice in personal finance, helping readers make informed financial decisions.

FAQs

1. What is Form 26AS and why do I need it?

Form 26AS is a consolidated tax statement that shows the details of tax deducted at source (TDS) for various transactions. It is essential to ensure all your tax credits are correctly accounted for.

2. How do I link my PAN with Aadhar?

You can link your PAN with Aadhar by logging into the income tax portal, navigating to ‘Profile Settings’, and selecting ‘Link Aadhar’. Enter the required details and submit.

3. What is the deadline for income tax filing in 2024?

The deadline for income tax filing for the financial year 2023-24 is typically July 31, 2024. Keep an eye on updates from the income tax department.

4. How can I use an income tax calculator?

An income tax calculator helps you estimate your tax liability based on your income and deductions. Many calculators are available online on the income tax portal and other financial websites.

5. What if I make a mistake while filing my tax return?

If you realize that you have made a mistake, you can file a revised return before the end of the assessment year.

6. Can I file my income tax return without linking PAN with Aadhar?

No, linking PAN with Aadhar is mandatory for income tax filing.

By following these steps and addressing common queries, you can file your income tax return online efficiently even without Form 16. For more detailed information and updates, always refer to the official income tax portal, incometax.gov.in.