ITr filing 2025: The process of filing income tax return (ITR) for FY 2024-25 has gained momentum. Salarid class taxpayers have also got Form 16 and their return is going on. This document is not only a proof of the income and TDS of the employee taxpayer, but also on the basis of this you claim tax deduction and refund.
Tax experts believe that it is necessary to check Form 16 carefully before filing income tax returns, so that no error or missing tax is a reason for a notice or penalty. Let us know what is Form 16 and what should be considered before filing the return.
What is Form 16 and why is it necessary?
Form 16 is the TDS certificate issued by your employer. It contains complete information about your year -long salary and tax deducted on it. It occurs in two parts- Part A, which contains the details of TDS and Part B, in which the breakup and cuttings of the salary are given. Return is filled on the basis of these.
Do check these 6 things related to Form 16
1. Match information about PAN, Salary and TDS (Part A):
Confirm whether your name, PAN number, total salary and deducted tax is correctly recorded. Also, the employer’s TAN (tax deduction and collection account number) should also be correct.
2. See salary structure and deduction (Part B):
What are the allowances you have received (eg HRA, Travel allowance) and under which streams have been cut (eg 80C, 80ccD). This matching is necessary because it is from here that your tax liability is fixed.
3. Review the total tax liability:
After deduction, look at what your final tax liability is described. Somewhere a tax exemption is not missed, take special care of this. In case of this, your tax liability may increase.
4. Compare Form 26AS:
Download Form 26AS from Income Tax Portal and match Form 16 with TDS recorded in it. If there is no mail between the two, there may be problems like refund or tax difference. It can also become the reason for tax notice later.
5. If there is any mistake, contact the employer immediately:
If any information in Form 16 is wrong, then demand a modification from the employer immediately. They have to file a new TDS return to improve. If you do not do this, then later the tax department can also impose jurman.
6. Do not hurry to fill ITR:
Fill the ITR only after verifying all the information. The returns filed on the basis of correct data not only calculates the tax accurately, but also makes the refund process quickly.
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