This is because employers typically issue Form 16 around this time.
Form 16 is a crucial document for salaried taxpayers. It contains details of salary income and tax deducted at source (TDS). Without it, filing an accurate return becomes difficult.
The e-filing portal is now live, and taxpayers can technically start filing. But experts advise waiting until Form 26AS and the Annual Information Statement (AIS) are fully updated. This ensures fewer errors and faster processing.
Form 16 is divided into two parts.
Part A includes the employer and employee details, PANs, TAN, and a summary of TDS.
Part B has the salary breakup, exempt allowances, and deductions under the Income Tax Act.
If an employee switches jobs during the year, each employer issues a separate Part A. In case of loss, employees can ask their employer for a duplicate Form 16.
Typically, taxpayers must file ITR by July 31, unless the government extends the deadline. Filing helps claim refunds on excess taxes paid or deducted.
The Income Tax Department has released ITR-1 to ITR-7, along with the ITR-V (verification) and ITR acknowledgement forms, enabling early filers to get started.
Still, for salaried individuals, the actual filing may begin only after Form 16 becomes available in June.
First Published: May 13, 2025 1:58 PM IST
