Скачать или смотреть [FORM 16] 7 MUST CHECK Things Before Filing ITR

Nobody gives attention to checking the details in FORM 16. It is important to ensure that the details are correctly given in FORM 16 #form16 #personalfinance #tamil #incometax #income #tax #taxsaving #incometaxreturn #refund #finance #education #itr #money #india #itraid
Form 16 is a document issued by your employer at the end of the financial year, summarizing the TDS deducted from your salary. It provides details about the tax deducted, your income, and any tax-saving investments you have made.

we will guide you on the 7 must check things to check in Form 16 before filing ITR. By following these steps, you can ensure that the information provided in your Form 16 is accurate.

1. Check for the TRACES Logo:
In Form 16, you will find two parts - Part A and Part B. Look for the TRACES logo, which indicates that the form has been downloaded from the official TRACES website.

2. PAN Number:
Verify that your PAN (Permanent Account Number) is correctly mentioned in both Part A and Part B of Form 16. A wrong PAN number can lead to issues while filing your income tax return, so it's crucial to double-check this detail.

3. Name and Address:
Ensure that your name, as well as your employer's name, PAN, TAN (Tax Deduction and Collection Account Number), and address, are accurately mentioned in the form.

4. Summary of Tax Deducted:
Form 16 provides a summary of the tax deducted from your salary on a quarterly basis. Review these numbers to ensure they align with your expectations.

5. Details of Salary:
Part B of Form 16 contains detailed information about your salary, including your gross salary, tax exemptions, allowances (such as HRA, LTA, and food allowance), and any tax-saving investments you have made. Cross-check this information with your latest compensation letter.

6. Tax Deducted/Paid:
Verify the tax deducted and paid details mentioned in the form's summary.

7. Change of Job:
If you have changed jobs during the financial year, you may have multiple Form 16s from different employers. In such cases, you need to provide your current employer with Form 12B, which contains details of your previous employment. Your current employer will then issue a revised Form 16, consolidating the information from all employers. This is essential for accurate tax filing.

If you find any discrepancies, reach out to your employer and request a revised Form 16.
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Timestamps:
00:00 Introduction
00:28 What is Form 16?
01:24 7 Important Checkpoints
03:40 Conclusion

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