New Delhi: The Income Tax Department has launched all ITR paperwork from ITR-1 to ITR-7 for the monetary yr 2024-25 (Assessment yr 2025-26). If you’re making plans to document your Income Tax Return (ITR) at the e-filing portal then be sure you have all of the very important paperwork like your PAN, Form 16, financial institution main points and different source of revenue proofs in a position. Also, be sure that your PAN is connected along with your Aadhaar ahead of submitting.
What is Form 16?
Form 16 is a certificates issued through your employer that displays the tax deducted out of your wage and deposited with the Income Tax Department. It serves as evidence of the TDS (Tax Deducted at Source) and contains main points of your source of revenue and the tax paid. It’s necessary for employers to supply this report to their staff annually.
Can you document ITR with out Form 16?
Yes, you’ll nonetheless document your ITR even though you don’t have Form 16? While Form 16 supplies main points of your wage, tax deductions, and exemptions, it’s no longer the one approach to document your go back. In some circumstances, particularly in case your source of revenue isn’t taxable or no TDS has been deducted, your employer would possibly no longer factor Form 16. But don’t concern—you’ll nonetheless document your ITR the use of different supporting paperwork.
Form 26AS
If you don’t have Form 16, Form 26AS may also be very useful. It’s an in depth commentary that displays the tax deducted out of your source of revenue (TDS), any tax accrued at supply (TCS), advance tax bills, or even high-value transactions. This makes it a a very powerful report for submitting your ITR.
Steps to Download Form 26AS
Here’s a handy guide a rough and simple approach to obtain Form 26AS:
– Go to the reliable Income Tax e-filing portal.
– Log in and click on at the ‘My Account’ tab.
– Select ‘View Form 26AS’ from the dropdown.
-Choose the related overview yr and click on ‘View’.
Click at the obtain way to save the shape in your tool.
Other Documents You’ll Need While Filing ITR
Apart from Form 16 or Form 26AS, stay those necessary paperwork to hand:
– Salary slips and financial institution statements for source of revenue verification
– Rent receipts and depart commute allowance (LTA) proofs for exemptions
– TDS certificates out of your financial institution (for passion source of revenue)
– Loan statements for house mortgage or schooling mortgage repayments
– Investment proofs for tax deductions beneath sections like 80C, 80D, and many others.