Why salaried taxpayers should not file ITR without Form 16: Key risks explained
As the ITR filing season for AY2026-27 gathers pace, salaried taxpayers need one of the most important documents to file their tax returns: Form 16.
As the ITR filing season for AY2026-27 gathers pace, salaried taxpayers need one of the most important documents to file their tax returns: Form 16.
July 31 – the due date for filing income tax returns for the financial year 2023-24 (assessment year 2024-25) – is drawing closer.
The ITR Filing is an important annual tax-related exercise must for all taxpayers. Taxpayers need to furnish many documents to support their tax claims as mentioned in the Income Tax Act. For all salaried individuals, Form 16 is an essential TDS Certificate provided by employers to employees that documents the TDS (Tax Deducted at Source) from salary and other components.
All salaried individuals need to wait at least more than two months to file income tax returns (ITR) for the financial year 2023-24. As per the usual schedule, employers issue Form 16 around mid-June, i.e before June 15. For FY 2023-24 (assessment year 2024-25), Form 16 should be issued by June 15, 2024.