Four Items To Check In Form 16 When Filing An ITR

Before filing your IT, you must cross-check a few pre-filled fields on the income tax return (IT) forms.

Before beginning to file your Income Tax Return (ITR), check the following 4 items on Form 16.

PAN Number

Verify the accuracy of the PAN Number provided in Form 16. If it is inaccurate, the TDS amount will not appear in Form 26AS, and you will be unable to claim a tax credit when submitting your ITR.

Tax-exempt allowances

Before filling them out on your Form 16, double-check the specific breakdown of your salary and the tax-exempt benefits to prevent inconsistencies.

Summary of tax deducted

Employers deduct taxes on a monthly basis, while Form 16 only shows them on a quarterly basis. Cross-check the tax deductions and request that your employer make any necessary corrections if there are any.

TRACES logo on Form 16

Before you fill out the Form 16 you receive from your company, check to see if it bears the TRACES emblem. Your employer must obtain an income tax form from the TRACES website.