Hindustan Times
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In Focus
ITR Filing: 4 Things To Check In Form 16
Income Tax Return (ITR) forms come with a few pre-filled information that must be cross-checked before filing your ITR
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Here are 4 things you should check in Form 16 before you start filing your Income Tax Return (ITR)
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PAN Number
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Check if the PAN Number mentioned in Form 16 is correct. If it is incorrect then the TDS amount will not reflect in Form 26AS and you will not be able to claim tax credit while filing ITR
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Tax-exempt allowances
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Cross-check the detailed breakdown of your salary and the tax-exempt allowances before filling them in your Form 16 to avoid discrepancies
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Summary of tax deducted
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While employers deduct taxes monthly, they are reflected on a quarterly basis in Form 16. Cross-check the tax deductions and ask your employer to rectify it in case of any errors
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TRACES logo on Form 16
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Ensure that the Form 16 you receive from your employer has the TRACES logo before you fill it out. An Income Tax Form must be downloaded from the TRACES website by your employer
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