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Shreyas Patil

Shreyas Patil

Asked on 15 May, 2019

What is Form 16?

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Form 16 is the TDS certificate issued by an employer. As per the Income Tax Act, when employers deduct TDS on salaries, they are required to issue a certificate in which details of the tax deducted and deposit is certified.

Ananya Bhatnagar

Ananya Bhatnagar

Asked on 15 May, 2019

Will I get Form 16 from my employer even if there is no TDS?

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Form 16 is a TDS certificate & it is issued only when there is tax deducted. Therefore, if there is no tax deducted, the employer is not required to issue Form 16 to you. The purpose of Form 16 is to serve as a proof of tax deducted and deposited on your behalf.

Charvi Jayaraman

Charvi Jayaraman

Asked on 15 May, 2019

What is ITR-1 form? Who can fill it?

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ITR-1 form or Sahaj is meant to be filled by salaried individuals. Those with an income of Rs. 50 lakh or less from their salary, one house property, and other sources like interest income. However, from this year, ITR-1 form cannot be used by any person who is either a director of a company or someone who has invested in unlisted equity shares.

Abhinav Sengupta

Abhinav Sengupta

Asked on 15 May, 2019

Can I file ITRs offline instead of e-filing?

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From this year, it's mandatory for all taxpayers to file ITRs electronically, except for super senior citizens whose age is 80 years or above in the previous year (2018-19). Taxpayers with an income less than Rs. 5 lakh in the previous year were allowed to file a physical return, but this option has now been withdrawn.

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