Income Tax Return (ITR) filing for the 2025-26 assessment year will begin on April 1, 2025. Form 16 will be issued by the employers and will consist of all the relevant income tax-related details for the financial year 2024-25. Let us take a look at what is Form 16 and whether it is mandatory for filing ITR.
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Form 16 is a certificate provided by an employer to employees, which includes the details of the employee’s salary and the tax deducted at source (TDS) throughout the financial year. In simple words, it is a document that acts as evidence that your employer has withheld and submitted tax for you to the Income Tax Department.
Form 16 contains two parts, Part A includes details about the employer and employee such as PAN number, TAN number, duration of employment, and a summary of tax that has been deducted and deposited. Part B is a comprehensive breakdown of the salary framework, featuring taxable earnings, exclusions under different provisions, along with the total tax owed.
Employees should make sure that Form 16 is submitted by the due date. Employers must provide Form 16 by June 15 of the assessment year (AY).
Although not mandatory, Form 16 simplifies the ITR filing process and reduces errors in reporting income and tax deductions. If excess tax has been deducted, Form 16 can help in getting refunds as well.
In case of an absence of Form 16, income tax return can still be filed with alternative documents like
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- Form 26AS – This combined tax statement accessible on the income tax department’s website offers information on TDS allocated to your PAN.
- Bank Statements – Helpful in confirming earnings and expenses.
- Annual Information Statement (AIS) – Provides a comprehensive overview of income sources, such as salary, dividends, and interest.
- Salary slips – To confirm your income and deductions.
