ITR filing date for the assessment year 2019-20 has been extended to August 31, 2019 and while Form 16 is required to file the return without much hassles. There can still be a case when you wish to file the ITR despite having received Form 16 which is to be issued by your employer.
Form 16 is the annual salary TDS certificate furnished by your employer and this year the deadline to furnish has been extended to July 10 instead of the earlier June 15.
Here is given a guideline to file the tax return without Form 16:
1. Collect and collate salary break up from monthly payslips: The gross salary received by you along with the allowances need to be found out for the year. If for the financial year, you have changed jobs then in such a situation aggregate details will need to be produced from all of the previous employers with which you have been employed during the Fy 2018-19
2. Claim professional tax and standard deduction: Union Budget 2018 reintroduced standard deduction for salaried taxpayers and this can be claimed up to Rs. 40000 against your salary income. Also, a deduction in respect of the professional tax charged to you can be claimed.
3. Claim HRA: HRA exemption can be still claimed if you at first missed on furnishing rent receipts to your employer at the time of filing tax return.
4. Income from other sources: Also, you need to specify other income source if any such as interest accruing from maintaining banks savings account etc.
5. Claim deduction on home loan for the interest payment: This is allowed up to the extent of Rs. 2 lakh in a year and for it you need to obtain a housing loan certificate from your financing institution. Also, in a case when if any income arises from your house property, you need to show that too.
6. Deduction for investment, expenses etc: For the different investments you are allowed a deduction of up to Rs. 1.5 lakh per year. And other than this salaried class are further allowed many more rebates which may be claimed as per the situation.
7. Form 26 AS: Now you need to download form 26AS available on the TRACES website and compare the TDS specified therein with the TDS value computed as per your payslips. This amount can be claimed as a tax credit against your tax liability on your total income.
8. Pay taxes: After arriving at the aggregate value of your income, claiming deductions and claiming credit in respect of TDS, balance has to be paid to the department as 'self-assessment tax'.
9. File your ITR: After paying the computed tax, you need to complete the process y filing your ITR and then verify the same either through the electronic mode or by submitting its copy with the CPC dept.