Sat. Dec 21st, 2024

Rajbir Chawla

In the event any unreported income is discovered by Income Tax Department during assessment, an assessee is liable to pay penalties which may extend upto 300% of the tax sought to be avoided besides Income Tax and the Interest due thereon... Read More
Filing tax returns without Form 16 can be challenging. Without it, calculating accurate income becomes difficult, proving TDS deductions becomes problematic, and claiming deductions accurately becomes a challenge. However, you can take several remedies. Start by communicating with your employer and requesting Form 16. If that fails, escalate the matter internally and send written reminders. If all else fails, approach tax authorities for assistance. In the absence of Form 16, use alternative documents like salary slips and bank statements to calculate income. Maintain proper documentation and consult a tax professional for guidance. Remedies include urging your employer, escalating internally, communicating in writing, seeking assistance from tax authorities, using alternative documents, and maintaining proper records.... Read More