Don't Let a Missing Form 16 Stop You
Employers are legally required to issue Form 16 by June 15th. However, startups, struggling companies, or former employers sometimes delay or fail to provide it.
With the July 31st deadline approaching, waiting for Form 16 can lead to late filing penalties. The good news? You don't actually need Form 16 to file your ITR.
Here is how to file your return using alternative documents.
Step 1: Collect Your Salary Slips Gather all your payslips for the financial year (April to March). Add up your "Basic Salary," "HRA," "Special Allowance," and any other taxable components to calculate your **Gross Salary**.
Step 2: Calculate Your Exemptions If you are opting for the old tax regime, calculate your exempt allowances. - **HRA:** Calculate the exempt portion based on your rent receipts. - **LTA:** If you submitted travel bills, calculate the exempt amount. Subtract these from your Gross Salary.
Step 3: Claim the Standard Deduction Subtract the standard deduction from your salary. For AY 2026-27, this is ₹75,000 under the new regime and ₹50,000 under the old regime.
Step 4: Verify TDS with Form 26AS and AIS This is the most crucial step. Log in to the income tax portal and download your **Form 26AS** and **AIS (Annual Information Statement)**. - Look for the TDS deducted by your employer. - Note down the employer's TAN (Tax Deduction Account Number) and name, which you will need to enter in your ITR. - Ensure the total TDS in 26AS matches the tax deducted on your payslips.
Step 5: Add Your Deductions (Old Regime) If filing under the old regime, add up your EPF contributions from your payslips. Combine this with your PPF, LIC, and ELSS investments for your Section 80C claim. Add any health insurance premiums under Section 80D.
Step 6: File Your ITR Enter these calculated figures into the relevant salary schedules on the income tax portal.
Why you should not wait for Form 16
Missing the deadline is far costlier than filing without the certificate. A late return attracts a fee under Section 234F.
| Situation | Late fee u/s 234F |
|---|---|
| Total income up to Rs 5,00,000 | Rs 1,000 |
| Total income above Rs 5,00,000 | Rs 5,000 |
Filing after the due date triggers a fee of up to Rs 5,000 under Section 234F, plus interest on any unpaid tax. Source: Income Tax Act Section 234F.
Common mistake
Guessing your gross salary instead of reconciling it. If your computed salary differs sharply from what your employer reported in your AIS, the portal can raise a query. Always tally payslips against Form 26AS and AIS first.
A Word of Caution Filing without Form 16 requires careful calculation. If your calculated gross salary differs significantly from what the employer reported to the tax department (visible in your AIS), you might receive a notice asking for clarification. Always keep your payslips and bank statements handy as proof.
If you have your Form 16, filing is much easier. You can simply upload it to LastMinute ITR to automate the process.