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Easy Steps to File ITR Even Without Form 16 for Salaried

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Filing ITR without Form 16

10th January 2021 is the last date for filing the ITR which reveals that there are only 5 days left for the same. It is better to collect all the documents and furnish ITR which prevents the stress and wrong filing at the last min. It is somewhere not possible to furnish the ITR if an employed person does not have Form-16 with him. As this form revealed the gross salary of the person and the TDS needed to be cut down. 

In some situation, if the organizations will not able to hold the business for some cause or any due to some other reason you will not able to get some cause you left your old company by not completing the formalities then you will not receive Form 16 and in such cases, you can furnish the ITR through other credentials such as mentioned below:

The Calculation of The Total Income:

File income tax without Form 16 is important to determine the income from all the sources in the corresponding fiscal year to file the ITR and for that, it is mandatory to have all the salary slips then only total income will be known. Thus to determine the payable income you have to deduct all the investments and deductions from the total income. 

You are urged to provide the details if you have earned any amount as rent from your property.

You are subject to paying the tax if you have gained capital gains either long or short. But it has the benefits of indexation relative to losses and inflation. The assessee must compute it perfectly to check the actual liabilities. The credentials must be associated with the buying and sale of property (deed), stamp duty, brokerage, and registration fee so to calculate the capital gains. 

One needs to consult from their respective broker so for the event of the mutual funds as well as shares. The profit for Rs 1 lakh which is enrolled is not liable for any tax which has been earned through the shares for the long term besides that short term gains are payable at 15%.

Other sources of income have to be computed such as the interest furnished on income tax refund in addition to interest on savings, fixed deposits, recurring accounts. The details concerning the passbook as well as the interest tax refund from Form 26 AS is mentioned respectively and you can see. 

TDS Computation 

See Form-26AS for details on subtracted TDS on your salary. It will make an individual sure that in Form-26AS and the amount of tax written in the salary slip is similar. If the figures were not the same then you should have to clear out from your older company and from that, you will get to know why distinctive taxes are appearing in the salary slip and in the Form-26AS.

Claim The Refund:

From your income, you must deduct all the allowances like transport allowance, house rent allowance, medical allowance, etc. also Rs 50,000 deduction will be refunded to you. Below section 80C of the Income Tax Act, you can avail of the tax privilege on the investments done up to Rs 1.5 lakh. Discounts on investments and expenses can be availed.

Computation of The Tax and E-verification

After all the calculations you will get to know about the tax on the income which you were receiving. Filed the return after you get to know about the taxed value. If you have already filed more then it will be refunded to you soon. The computation of how much tax to be paid will automatically start resembling the ITR form. E-verification will be done after filing ITR. 

Credentials of The Employers or Company Can be Worked Out

You will not get Form-16 if you are an employee of a company and your TDS does not get deducted. For the certificate, you can request out to the employer of the company as he mentioned the income you received in the certificate. Through the bank statement, you can file the ITR if your employer denies to give you a certificate. 


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