Not got the Form 16 from your employer? You can still book your allotment afterward all these accomplish and complete the e-filing action as mentioned thereon.
1) Get all your Pay Slips: Accumulate all the pay block for a accurate banking year, alike if you accept switched job in between.
2) Compute your absolute bacon income: Account your gross absolute salary. However, employer’s PF addition will not be advised while artful the taxable bacon but your own addition will be
3) Know how abundant tax is deducted: To analysis the answer of the amount, you accept to accredit to Form 26AS. The deducted on the Form 26AS has to be aforementioned as your employer has mentioned in pay slips.
4) Carriage and Medical Allowances: If you are accepting these allowances, you can get absolution up to Rs 34200 (Transport Allowance Rs 19200 and Medical Allowance Rs 15000 annually) while accomplishing the ciphering of your assets tax. However, from aing banking year, one may be able to booty the account of the accepted answer for Rs 40000 in lieu of the absolute carriage allowance and medical bulk reimbursement.
5) Affirmation HRA and added absolved allowance: You can abate your tax accountability by claiming HRA exemption. You should additionally compute absolved allowances like conveyance, accouchement apprenticeship and auberge allowance, aliment coupons etc. from your taxable salary.
6) Affirmation deductions beneath Section 80C: If you accept invested in any defined instruments beneath Section 80C of the Assets Tax Act, you can affirmation answer which can add up to Rs 2 lakh.
7) Declare assets from added sources: Any added assets becoming such as rental income, part-time business as able-bodied as absorption becoming on anchored deposits will appear beneath absolute taxable income.
8) Compute net taxable income: You charge to account your exact assets tax on the taxable assets as per the assets tax slab ante declared for that banking year.
9) Pay added tax if necessary: Once the adding of tax payable is done, you charge to acquisition out that the bulk of tax paid by you. If it is beneath than the bulk mentioned in Form 26AS again you charge to pay the balance amount.
10) E-file your ITR after Form 16: Once all your tax ante or the cogwheel bulk has been paid off and aggregate matches as per Form 26AS, you can again e-file your tax allotment after Form 16.
You may additionally appetite to know: How to book Assets Tax Allotment online in 5 simple steps
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