With the start of the new financial year, the process of filing Income Tax Returns (ITR) for the assessment year 2025-26 has begun. Taxpayers can file their ITR from April 1 for the previous financial year. However, most companies provide Form 16 only after mid-May, causing many people to delay their tax filing.
But did you know that you can file your ITR even without Form 16? This document contains details about your salary and Tax Deducted at Source (TDS), making the filing process easier. However, if you do not have Form 16, you can still complete your tax return using other important documents.
Your salary slips for the entire financial year provide details about your earnings, allowances, and deductions. These are essential for accurately calculating your income.
Use your salary slips to determine your total earnings, including:
To calculate taxable income, subtract deductions such as:
Note: Deductions and exemptions are only available under the Old Tax Regime. The New Tax Regime allows only a Standard Deduction of ₹75,000.
Review your bank statements to identify any additional income sources, such as:
Include this income while calculating your total taxable amount.
Form 26AS is available on the Income Tax Department’s website. It provides a record of all tax deductions and deposits linked to your PAN. Cross-check your income and TDS details with this form. If you notice any mismatch, contact your employer or bank for corrections.
Form 16 is a document issued by employers confirming that TDS deducted from your salary has been deposited with the government.
If you don’t have Form 16, there’s no need to worry. You can file your ITR using salary slips, bank statements, and Form 26AS. Ensure your income and tax details are accurate, and contact your employer or bank in case of any errors.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Apr 3, 2025, 2:14 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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