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
Rajbir Chawla
Not replying to queries from the Income Tax Department in India can have various consequences, as the department has the authority to enforce compliance with... Read More
After filing an Income Tax return in India, there are several common reasons why an assessee (taxpayer) may receive a query letter from an Income... Read More
All about Choosing between New Tax Regime and Old Tax Regime- Which regime is good for you
7 min read
The New Regime and Old Regime of income tax in India represent two different tax structures that individual taxpayers can choose from. Let’s delve into... Read More
The government announced the new ITR form for the fiscal year on March 31, 2021. The ‘ITR’ is a form used by taxpayers to record... Read More
How to select the ITR form to be filed? By Filing return in wrong format, you may miss report some income and get exposed to Penalty... Read More
Introducing and predicting the future of DOT
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Introduction Cryptocurrency is one of the cryptocurrencies of the market and is actually a bridge that connects blocks of different layers. Although the code of... Read More
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Check how you can use HUF as a tool of tax planning and how to make a HUF Creation deed... Read More
The Income Tax Department is starting an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from Monday (July 20, 2020). The... Read More