As the deadline for filing the income tax return (ITR) for the assessment year 2025–26 approaches, the old problem has again cropped up for most salaried professionals across the nation. With the companies postponing or not furnishing Form 16, a fundamental document that presents income and tax deductions, most are left confused about what to do. The income tax compliance is still possible due to a sound environment of electronic records and replacement documents in the absence of this document. Tax consultants say that not having Form 16 does not free one from filing, but systematizes the procedure around the financial documents available.
As was previously mentioned, Form 16 is not supplied in the circumstance of a job change or in the event of ineffective processing, or when its issuance is contravened. Taxpayers who do not have a copy of the form have to use secondary evidence to establish their income and deductions.According to financial experts, one should obtain the following:
These documents, when prepared correctly, enable a thorough understanding of yearly income and tax liabilities.
Without Form 16, an annual income estimate is a hands-on exercise. Professionals have to calculate their gross income by totalling monthly incomes found in payslips throughout a financial year. This amount will then be revised by deducting elements that can be exempt under Section 10 of the Income Tax Act, such as:
The amount that results is the net taxable salary, which is applied to calculate overall tax liability.
One of the most critical steps in the filing procedure is reconciliation of the TDS posted in salary slips with the postings in Form 26AS. A mismatch can lead to speculation that an employer has not deposited the deducted tax with the authorities. Immediate contact with the employer is recommended by tax consultants in such scenarios, since discrepancies left unresolved could affect refund entitlement or attract attention from the tax department.
For proper reporting of income, experts are mandated to report all other sources of income in their return. Typical examples are:
A myriad of deductions under the Income Tax Act are still there to lower the overall tax incidence. Well-known segments are:
Section 80C: Allows deductions of up to Rs 1.5 lakh on EPF, PPF, ELSS, and some insurance premium payments.
Section 80D: Provides for deduction for health insurance premiums.
Section 80E: Provides for payment of interest on education loans.
Section 80G: Provides for deduction on donations made to registered charitable trusts.
Every deduction has to be supported by documentary evidence, particularly when Form 16 is not available.
The next step is to apply the relevant slab rates of income tax to all the incomes and deductions recorded, so that a final liability is determined. From this amount, TDS already deducted as accounted in Form 26AS will be deducted. Any arrears should be paid before filing the return, whereas excess TDS can be claimed as a refund when filing the return.
Selecting the proper form is critical to avoid mistakes or delays:
The Income Tax Department's official website makes it simple to file the returns online.
Salaried taxpayers must not be deterred from filing their taxes by the non-issuing of Form 16. With increased digitisation in taxation administration and easier access to accounting records, the taxpayer now possesses the wherewithal to file returns unaided. With the looming deadline for July 31, being proactive and keeping proper documentation helps ensure hassle-free filing. Being more than a mere compliance exercise, correct tax filling is fast turning into a building block of fiscal discipline by individual taxpayers in a transparent and responsible economic environment.