Filing your ITR can be quite stressful, don’t you think? But if you are a salaried individual, fear not! Your employer will have already provided you with your Form 16 or will provide it shortly. Now you can also use a digital Form 16, so all becomes faster and easier!. Let’s go through what Form 16 is, how to download and how to use it to file your ITR this year. It’s easier than it seems.
Why Form 16 is important during tax season
Form 16 is actually your tax report card. Your company issues this under Section 203 of the Income Tax Act, 1961, and it shows your pay and the TDS (tax deducted at source) cut deduction. CBDT guidelines require all companies to give this form to their employees by June 15th of every year. It’s required for filing your income tax in the right way.
Breaking Down Form 16: Understanding Parts A and B
Form 16 comes in two halves:
Part A provides you with the essentials—name, employer’s name, duration of job, and the tax deducted amount.
Part B reflects to you the details—your salary structure in entirety, exemptions, Chapter VI-A (such as 80C) deductions, and your total taxable income.
The two halves together provide you with an overall idea about your income and taxes.
Where to Get Your Digital Form 16
Most of them mail it to you through email or upload it on their HR website. That’s the easy part.
If you want to check your TDS details, visit https://www.tdscpc.gov.in. Log in with your PAN and check the Form 26AS section. Keep in mind that you cannot download the entire Form 16 here, but you can check whether the employer has deducted the proper tax.
Using Form 16 to Fill Your ITR Easily
Once you have Form 16:
Compare it with Form 26AS and AIS.
Fill your ITR form using the data in Part B.
Enter the details yourself or use the pre-filled data from the e-filing portal for convenience.
But always cross-check. Errors can lead to delays or trigger tax notices.
Don’t Skip the Final Verification Step
Before you hit the submit button, check the PAN and TDS information twice. Small errors lead to big issues such as rejection of ITR or delayed refunds. So, spend an extra five minutes. It is worth it!