ITR filing AY 2025-26: How to download Form 16 for FY 2024-25? Step-by-step guide & top things taxpayers should take care of

ITR filing FY 2024-25: The last date to file your Income Tax Return (ITR) for AY 2025-26 is approaching. This year the Income Tax Department has extended the ITR filing deadline to September 15, 2025. Before you sit down to file your ITR, salaried taxpayers should have their Form 16 handy.

The Form 16 has details of annual taxable salary income along with the personal incomes (if declared separately by you to your employer) and taxes deducted on all such incomes. It consists of two parts:

• Part A discloses the salary paid/credited and corresponding taxes deducted and deposited.
• Part B shows the breakup of said salary paid/credited into allowances, perquisites, exemptions, deductions, rebates and taxes thereon.

The Form 16 is generated online through TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal, basis the processing of quarterly withholding tax returns filed (Form 24Q) by the employer.

Also Read | ITR filing FY 2024-25: New versus old income tax regime - what helps you save more tax? Check calculations before filing return

How to download Form 16 from TRACES website?

Chander Talreja, Partner, Vialto Partners explains the simple steps to be followed to download Form 16:

Step 1: Log in to the TRACES website at https://www.tdscpc.gov.in/. with the registered User ID, Password and TAN

Step 2: In the ‘Downloads’ tab, select ‘Form 16’ where you will have option to download for one PAN or Bulk PAN for the financial year

Step 3: Validate the Authorized person details and enter the provisional receipt number/token number as appearing in the acknowledgement of the TDS return filed for Quarter 4 along with the Challan details, PAN details and total tax deducted for 3 unique employees

Step 4: Once the download request is submitted, The Form 16 will be available within 24-48 hours.

Step 5: The file is downloadable in .txt format which needs to be converted into a pdf file via the TRACES pdf converter utility and signed digitally/manually by the authorized signatory

Also Read | ITR filing FY 2024-25: Why filing Income Tax Return is important even if you have no tax to pay - explained

Form 16 for ITR filing: Points to remember

• It is mandatory for all the employers to issue a Form 16, on or before June 15 following the end of the financial year. Else, a penalty of Rs 500/- per day will be levied, says Chander Talreja.
• In case of any perquisites provided, an additional form 12BA in prescribed format (detailing the breakup of each perquisite) is manually required to be issued by the employer along with the downloaded Form 16.
• The Income Tax Return form seeks detailed information of salary components, exemption availed etc. and automatically pre-populates the salary income. It is imperative that employees provide all the requested details based on the breakup provided in part B of form 16 and carefully check the pre-populated details.
• Where an employee works with 2 or more employers during the financial year, details of separate Form 16s issued by each employer will be required to be incorporated in the ITR.
• The Form 16 serves as a proof of income and is requested for securing loans etc. One should match the Form 16 with the details appearing in the Form 26AS/Annual information statement and get details corrected, in case of any discrepancy, says Chander Talreja.

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