Income Tax Act, typically by employers, necessitates issuance of a certificate (most commonly Form 16). This certificate provides the following details to the individual from whom tax was deducted:For individuals new to filingIncome Tax Returns (ITRs), Form 16 serves several crucial purposes:Verification: It allowstaxpayers to verify if the deducted TDS aligns with the tax department’s records.Tax filing: Form 16 is essential for ITR filing as it pre-fills income and TDS details.Record-keeping: It acts as a comprehensive record ofTax Deducted at Source (TDS) deductions across the financial year.Section 203 mandates the issuance of this certificate, ensuring transparency and accountability in the TDS for both taxpayers and the government.Typically, the information in Form 16 should align with the prefilled ITR form since the income tax department uses data from Form 16 and similar documents for pre-population.
Nevertheless, discrepancies may arise due to various reasons:While it’s uncommon, it’s prudent to remain vigilant and cross-check the information in both documents. If you find discrepancies between your Form 16 data and the pre-filled information in your ITR form, you may want to consider the following steps:If you find any mismatches in the information mentioned above, there might be an error.
If needed, furnish the correct information and request the issuance of a revised Form 16.Minor discrepancies, for example, a typo in your name, can often be corrected directly when filing your ITR online, as most platforms allow for edits. However, for more significant discrepancies (e.g., incorrect income amount or missing TDS details), additional steps will be necessary.In rare instances, errors may occur in the pre-filled
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