𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗥𝗲𝘁𝘂𝗿𝗻 𝗙𝗼𝗿𝗺 𝟭𝟲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀

𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗥𝗲𝘁𝘂𝗿𝗻 𝗙𝗼𝗿𝗺 𝟭𝟲 𝗥𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁𝘀

Salaried taxpayers need specific documents to file income tax returns for the 2025-26 financial year. Form 16 serves as a certificate for salary paid and tax deducted by employers.

Form 16 Details:

• Part A includes PAN, TAN, and tax deduction summaries.
• Part B includes salary breakdowns, exemptions, and deductions.
• Form 12BA reports details of perquisites.

Employer Responsibilities:

• Employers must issue Form 16 if they deduct tax from salaries.
• The deadline for issuance is 15 June 2026 for the 2025-26 financial year.
• Employers face a penalty of Rs 500 per day for late issuance.

Filing Without Form 16:

• Taxpayers can file returns without Form 16.
• Use salary slips and bank statements to verify income.
• Check Form 26AS and the Annual Information Statement (AIS) to confirm tax credits.
• Ensure tax deducted by employers appears in Form 26AS or AIS.
• Contact HR or payroll departments if tax details do not match official records.
• Combine salary information from all employers if a job change occurred during the year.

Source: The Times of India