Form 16

POSTED BY Anurag Srivastava ON May 28, 2012 1:17 pm COMMENTS (10)

My Company had already generated my Form 16 but I am yet to claim the HRA Amount deducted from my Salary as TDS.Can I ask my company to update my Form 16 or can I do it manually at the time of Filing returns.

Also,please provide me some link about income tax filing and refunds

10 replies on this article “Form 16”

  1. naveejka says:

    Like Vijay said, this was possible last year and I was not able to do it in the Sahaj Excel Utility (2012_ITR1_PR12) for this year. However, I downloaded a new Sahaj form (2012_ITR1_PR18) today and imported the data in the old version to this new form. Now, I am able to generate the XML file. I think the IT department has fixed the bug.

  2. BanyanFA says:

    Anurag,
    Generally companies may not modify Form 16 and hence they ask very much in advance in case you want to declare your HRA and other tax deductions. Hence you may notice that you may get extra hit of Tax deductions.

    The option which you have are :
    1. Try checking with them if they can modify Form 16. I believe that you would get a ‘No’ response, considering that they would have already deducted and paid the TDS to the Govt.
    2. File a tax return in line with your actual HRA details and claim for a refund in line with Ashal’s comments.

    Regards
    BanyanFA

    1. Vijay says:

      Hi,

      Last year the option to modify was available. I am hoping next version of the excel utility may fix the problem that you are facing. If you are not in a hurry wait for another version. Usually the utility gets all issues corrected by July 1st week just from last 3 years of e-filing experience.

      Regards
      Vijay
      P.S. I also raised a similar question which i need to drop now to avoid duplicate queries.

  3. Dear Anurag, Please visit the following link –

    http://www.incometaxindiaefiling.gov.in

    Download the excel sheet of ITR-1 applicable to you. Fill in the details, & you can submit your own ITR online. If you are still in doubt, you may take help of paid tax return filers – both online & offline.

    If you are taking help of others, please mention specifically that you are yet to claim benefit of HRA in your form 16. No matter your employer has given benefit or not, you may claim at the time of filing the return.

    Disclosure – I’m filing online ITRs for my friends & others on paid basis.

    Thanks

    Ashal

    1. gauravgupta2808 says:

      Hi, In this case can I modify the ‘Income under head salaries’ amount or should it be same as provided in Form 16?
      Thanks.

      1. Dear Gaurav, can you elaborate on this modification thing in ITR form? what do you want to know? If possible please give an example.

        Thanks

        Ashal

        1. gauravgupta2808 says:

          Ashal, pls find my explaination:
          In my form 16 say employer has put ‘Income under head salaries’ as 1,00,000 after deduction section 10 amount for conveyence and HRA.

          However employer has only considered 18000 HRA for 11 months and 1 month was not considered. I need to include all 12 months and HRA becomes 20000.

          In ITR 2, Schedule S, I can mention
          Salary (Excluding all allowances, perquisites & profit in lieu of salary).. 98,000
          Allowances exempt under section 10 – 20000

          But in TDS, Schedule TDS1, what do I mention as “Income chargeable under Salaries”
          – as per form 16 – 1,00,000
          or after removing the HRA for 1 month?

          Thanks.

          1. Dear Gaurav, TDS by your employer is one thing & your actual tax liability is another thing. While filing your ITR – please put the exact details of form 16 in the TDS sheet. Where as for computation purpose please put the actual calculated nos. as given above by you in the income from salary details.

            You ‘ll be able to see a refund for yourself.

            Thanks

            Ashal

        2. anki1313 says:

          Hi Ashal,

          In filling ITR-1 form if i made actual calculations in salary column and put actual nos in TDS1 schedule, the salary which i calculate is lower than salary as per form 16. that will shows a error message in generating XML fie i.e. income from salary should be equal to or greater than salary as per sch TDS1.

          what can be done…..????

          1. Dear Anki, in that case change the Salary figure in the TDS sheet as per your calculated amount.

            Thanks

            Ashal

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