People working are waiting for the release of Form 16. However, the Income Tax Department has increased the deadline for filing tax returns. The Central Board of Direct Taxes (CBDT) spoke about this on 27 May. Now the last date for filing income tax returns is on September 15, 2025. Generally, the deadline to file income tax returns is 31 July. However, this time many changes have been made in ITR forms. The Income Tax Department has not yet issued utilities for online return filing. Therefore, the deadline for filing tax returns has been increased.
Form 16 is necessary to file income tax return (ITR) of salary taxpayers. Actually, in Form 16, the salary of the employee is complete information about income. It knows how many amounts have been paid by the company in the form of salary package in the concerned financial year. It also contains information about a source deducted. The company transfers salary to the employee’s salary account after deducting tax every month. The TDS amount is deposited with the company Income Tax Department. The company starts deducting tax every month according to the salary of the employee at the beginning of the financial year.
If an employee’s source of income is just a salary, then he does not need to pay much tax while filing the income tax retrimation. The reason for this is that the company has already deducted tax from the salary of the employee. The entire information of tax deducted throughout the financial year is in Form 16. Therefore, it is necessary to file income tax returns. If the taxpayer uses the Old Regime of Income Tax and has made tax savings investment, then it is also known in Form 16.