ITR Filing: What to check in your Form-16

THINGS TO CHECK IN YOUR FORM-16 WHILE FILING ITR

[{"selector":"#anim-3b182dbe-8b2b-42fd-baf2-fe1d1066b019","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-072b9d53-bc0e-4efc-98f1-405420ab0a6f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(7.475783248237558%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-e96f264c-3c2d-49b9-beb0-08add9c6a425","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] By Priyanka Roshan | Jun 22, 2023

[{"selector":"#anim-7ba5501b-8f17-440b-9b78-9b72b630e972","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] It is that time of the year and here is what you should check for in your Form 16 before filing income tax returns (ITRs). (Video Source: Pexels)

[{"selector":"#anim-43787338-8a58-4696-954b-4338ec8f8896","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e4bb40de-50e9-4382-ad66-1a0c213b8bfc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The Form 16 is a pre-filled document issued by an employer that summarises salary income, tax deductions and tax deducted at source (TDS) information.

PAN INFORMATION

[{"selector":"#anim-64b08c7b-fe46-4f58-8403-8b4016692d1f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b4f5eda6-e9b1-48eb-bec3-c4fd0122ee8e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-59f7071f-f358-4020-96de-e944bdf521c5","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Make sure your name, Permanent Account Number (PAN) and other personal information is correct.

TAX DEDUCTED AT SOURCE

[{"selector":"#anim-c8a07819-d783-4b50-86d9-26e05cfdea62","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0a01e4e5-e2e3-4b13-9cd7-028b2a3e275d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3db80c39-3f85-4ecf-9f3a-b82ee92ff33b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Make sure the TDS amount deducted by your employer matches the amount reported on the form.

SALARY INCOME

[{"selector":"#anim-800b58f9-ec82-4263-806b-1b3d98a023a4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a90942af-17a4-48ae-adea-108cb498d346","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Verify the salary breakup in the Form 16. Make sure components like basic salary, benefits and deductions are correct. (Video Source: Pexels)

[{"selector":"#anim-34c5ee14-c7ee-4c43-b34e-3451707e76b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07183ee1-2435-4409-a72e-c3f7fe65660a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8ac391fe-c544-4857-937c-bbba3d3a82f0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Check that your taxable income & deductions are calculated correctly, including deductions under Section 80C, 80D, etc. TAXABLE INCOME & DEDUCTIONS (Video Source: Pexels)

[{"selector":"#anim-f25655d0-27dd-4a49-a0cd-0eb9db4767a4","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3b6441f7-d079-41df-add8-09146c69c075","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Check that exemptions and reliefs such as House Rent Allowance & Leave Travel Allowance are listed in the form. EXEMPTIONS & RELIEFS (Video Source: Pexels)

[{"selector":"#anim-0743b77b-7eec-4806-a4ac-4931cb8b8511","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-63ddad5b-25bc-4fb3-b238-fac207f99e93","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] If you changed jobs during the financial year, make sure your previous employment details are correct shown. PREVIOUS EMPLOYMENT DETAILS (Video Source: Pexels)

[{"selector":"#anim-4d93179d-4126-41b0-bdb5-b88cf22745c7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fc64cfa1-679c-4250-80dc-08cf48292922","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-62afac46-f23c-4808-86c4-869f60fb155b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(8.556337825283663%, -13.669170140861466%) scale(1.3875968992248062)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Make sure the Form 16 is digitally signed by your employer, to confirm the authenticity of the document. DIGITAL SIGNATURE

[{"selector":"#anim-44c03530-d965-4f5f-9a30-07e34ebbab91","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f36baaa-1714-4796-9d7d-80b0e67dd18c","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Verify the Tax Deduction and Collection Account Number provide by your employer TAX DEDUCTION ACCOUNT NUMBER (Video Source: Pexels)