Filing Income Tax Without Form 16: How Can I Prepare for a Future Home Loan?

Hi to all, I have been working in a proprietorship company since March 2013. My current salary is Rs. 18,000 per month, and I receive it in cash without any deductions. Now, I need to file my Income Tax Return (ITR) for the financial year 2013-14.

Understanding Form 16 and ITR Filing

I am unsure about Form 16. Is it mandatory to file ITR? I anticipate needing a home loan in the future, and I believe Form 16 may be necessary for the loan application.

Seniors, please assist me in understanding how to file my ITR and provide information about Form 16. Your prompt response would be greatly appreciated. Thank you in advance.

Form 16 and Filing Your Income Tax Return (ITR)

Your employer must issue Form 16 against the salary paid for the financial year, even if no TDS was deducted. In the worst-case scenario, where the employer does not issue Form 16 for whatever reasons, ask for a comprehensive salary certificate for the concerned financial year stating the TAN No of the organization. With the salary certificate (which will detail the breakdown of salary), you can proceed with the computation and file the return.

You can log on to the IT Dept website and file your ITR online.

Regards.