Form 16 Tax Filing

Individual taxpayers not having business or professional income can use this form

Filing ITR is mandatory in order to claim deductions under Chapter VI and exemptions on long-term capital gains; but there are other benefits you need to know about

The documents you collect for this purpose will prove handy if an assessing officer conducts inquiry

A mistake in calculating tax liability could lead to a notice from the tax department

Report any discrepancy between the two documents to the employer immediately and get it rectified

Here's all that you know, and you don't know, about Form 16, TDS certificate, Form 16 part A, Form 16 part B, Form 26AS, Income Tax portal, and things to remember as a taxpayer

The last date for issuing Form 16 extended till July 31

While they verify information, the onus is on you to ensure that the details are correct