Income Tax Return filing for Assessment Year 2023-24: Form 16 makes it easy for salaried employees to file their Income Tax Return (ITR). It contains details of your income and tax deductions made by the employer in the relevant financial year. However, it is also possible to file ITR without Form 16, according to tax experts.

“Without form 16 ITR can be filed using Payslips (It has all the details of salary) and form 26 AS(TDS details). Also Investment documents are needed to claim the deductions,” says Archit Gupta, Founder and CEO, Clear (formerly ClearTax).

Abhishek Soni, Co-founder & CEO of Tax2win, you can file ITR without Form 16 by following the below steps:

Gather Salary Slips

Collect all your salary slips or payslips for the financial year for which you are filing the income tax return. These payslips should contain salary details, allowances, deductions, and other income components.

Also Read: Form 16 is here. How to download from Income Tax TRACES website, Correct Errors before ITR filing

Calculate Taxable Income

Consolidate the information from your salary slips and calculate your taxable income. Consider all the components of your salary, such as basic salary, allowances, perquisites, bonuses, etc. Subtract applicable deductions such as house rent allowance (HRA), standard deduction, professional tax, etc. This will give you your taxable income.

Refer to Bank Statements

Review your bank statements to identify income sources other than your salary. This could include interest income, dividends, or any other form of income. Include these amounts in your taxable income calculation.

Also Read: Everything you should check in Form 16 this month to file Income Tax Return before Due Date

Verify Form 26AS

Access your Form 26AS through the Income Tax Department website. Form 26AS is a consolidated statement of all the taxes deducted and deposited against your PAN. Verify that the TDS details mentioned in Form 26AS match your calculated income details. If there are any discrepancies, contact the deductor (employer or bank) to rectify them.