Compare Form 16 with 26AS before filing income-tax return: Experts

Report any discrepancy to your employer and get it amended

Attention to details is paramount when filing income-tax return (ITR). By mid-June, employees receive Form 16 from their employers. The first step in filing ITR is to compare Form 26AS with Form 16. If there are discrepancies in the figures quoted in the two documents, they need to be rectified.  

Pratyush Miglani, managing partner, Miglani Verma & Co says, “Discrepancies could invite a notice from the Income-Tax (I-T) Department.”

Understanding Form 26AS

It is an annual statement that contains information such as tax deducted at source (TDS), tax collected at source (TCS), advance tax paid, self-assessment tax paid, refund received