ITR E-Filing Online with Multiple Form 16s: Understand the Process
- PRITI SIRDESHMUKH
- Jul 14
- 6 min read
Updated: Jul 17
One of the most essential forms that taxpayers must provide to file an income tax return (ITR) form each financial year is Form 16. If the company withholds taxes from the employee's pay, they will issue Form 16. It includes information on different TDS/TCS transactions. It is necessary to provide this form to the taxpayers. Every financial year, the income tax department issues a deadline for all Indian enterprises to provide Form 16 to all of their current and past employees. In this article, we will explain the process of fling an ITR online when you have multiple Form 16s.
Table of Contents
What Is Multiple Form 16s?
Your employer issues a Form 16 for the money you made within a single financial year. However, you will need to file your ITR using several Form 16s if you change jobs and work for more than one employer in a single financial year. Let us share an example to make this clear. After working for A Ltd. from April 1 to July 31, 2023, Sunil moved to B Pvt. Ltd., where he remained until March 31, 2024, for the remainder of the financial year. To file the taxes for the fiscal year 2023–2024, Sunil will need to use multiple Form 16s provided by two employers.
Why e-File ITR with Multiple Form 16s?
Form 16, which shows the employee's earnings for a single financial year, is given by the company. Nonetheless, there are some circumstances in which filing more than one Form 16 is required:
When someone changes jobs within the same fiscal year.
When an individual's employment with multiple employers is concurrent.
Important Takeaways
Use Form 12B to report the previous pay to the new employer. It simplifies the process of filing several forms. 16.
To determine the gross income, add the values under "salary under section 17(1)."
The former employer calculates the final taxable income by dissecting the pay slip in the absence of Form 16.
Steps for ITR E-Filing Online with Multiple Form 16s
Just take these easy actions to simplify ITR filing online if you have multiple Form 16s.
Step 1: Get Form 16s from various employers. Add up your entire gross salary and verify the amount of tax withheld in the form of TDS.
Step 2: Get your Form 26AS and compare it with the TDS amount on Form 16. You cannot claim tax credit if your TDS details do not match. Inform your employer instantly if there is a mismatch.
Step 3: Determine your total income, which includes both your pay and any additional sources of revenue. Claim any deductions for investments, contributions, etc, you made under Sections 80C to 80U. Your "Total Taxable Income" will result from this.
Step 4: After accounting for TDS and any applicable advance tax, determine your overall tax obligation. If you have already paid a portion of your tax liability, you will need to pay the remaining amount. Otherwise, you might be qualified to receive a refund for the additional taxes you paid.
Step 5: You should also determine if any interest under sections 234A, 234B, and 234C applies. Read about u/s 234A/B/C interest.
Step 6: You can file an ITR after figuring out and paying your tax and interest obligations. ITR 1 Sahaj Form is the most widely used for salaried individuals. Every individual uses ITR forms differently, though.
Step 7: You will submit details such as your full name, address, and other information.
Step 8: Next, you must include the income you received throughout the fiscal year in your ITR form. You will require multiple form 16s in this situation. You must manually input the income from both Form 16s here.
Step 9: In the following steps, include information about your TDS from your pay as well as other deductions such as travel expenses and HRA.
Form 16 Consolidated
Let's say you had a job change throughout the same fiscal year. If so, you ought to disclose to your new employer your prior income, interests, etc. With the use of Form 12B, you can inform your new employer about your previous pay and other details. The employer will then be better able to calculate your total income and withhold TDS appropriately. Following the conclusion of the applicable fiscal year, you will get a combined Form 16.
Steps for ITR E-Filing if Your Previous Employer Has Not Issued a Form 16
It's possible that your former employer went bankrupt or failed to supply you with a Form 16. If so, you can file your ITR by following the instructions below:
Step 1: Using the salary slips supplied by the previous employer, determine the wage breakdown and deductions.
Step 2: Add up all of your earnings and subtract any exclusions, such as housing rent or travel expenses.
Step 3: If you have made any investments listed under Sections 80C through 80U, you may claim deductions.
Step 4: Next, determine the overall tax obligation and subtract the TDS that the employers have paid, as indicated on Form 16.
Step 5: You will be responsible for paying any taxes that are due. Form 26AS allows you to double-check your deductions.
Conclusion
Even with numerous Form 16, e-filing your income taxes is simple if you follow the instructions. Utilize Form 12B to inform your present employer about the compensation you received from your former job. You will find it easy to file the ITR. You can utilize your salary slips to learn about your earnings, deductions, and other details if you fail to receive Form 16. In the fiscal year, be careful to create an investing strategy that will reduce your taxes.
FAQ
Q1. Why would someone have multiple Form 16s?
A person may have many Form 16s if they worked for multiple companies throughout a financial year or if they changed jobs during that period.
Q2. Should I retain copies of all the Form 16s for future reference?
A copy of every Form 16 that your employers provided you should be saved for future use. These records serve as proof of income and tax withheld at the source and are essential for several reasons, including loan applications or income tax assessment verification.
Q3. Can I get assistance with filing my ITR?
TaxBuddy offers expert assistance to help file ITR with its email and Live Chat support. You can even engage an expert if you need help submitting your ITR, and they will assist you with the process.
Q4. Can I add salary details without uploading Form 16 on TaxBuddy?
Yes, you may manually enter your income information on TaxBuddy without having to upload your Form 16. Uploading your Form 16 is advised, though, as TaxBuddy will automatically read your pay information.
Q5. Can I check if my ITR is processed on TaxBuddy?
Indeed, you may check the status of your ITR by logging onto TaxBuddy. In addition to verifying if your ITR gets completed, you can check the status of your refund if you qualify for one with the IRS.
Q6. Should I visit the Income Tax portal to e-verify my returns?
No, you can use TaxBuddy to e-verify your return. To e-verify your return, you don't need to go to the Income Tax portal individually.
Q7. Can I file my ITR on TaxBuddy if I have other income sources along with multiple Form 16?
If you earn money from sources other than your pay, such as freelancing, interest, capital gains, or virtual digital assets, you can file your income tax return (ITR) on TaxBuddy.
Q8. After filing my ITR on TaxBuddy, will I get acknowledgement from the IT Department?
Yes, the Income Tax Department will receive your return and issue you an acknowledgment number when you file your ITR on TaxBuddy and pay your taxes. Additionally, you will receive emails and SMS from the Income Tax Department.
Q9. Can I file my ITR with multiple Form 16s offline?
The Income Tax Department now mandates people to submit their income tax returns electronically. The majority of people no longer have offline filing options.
Q10. What if there are errors in the Form 16s?
To resolve any inconsistencies in the Form 16s your employers have provided, you should contact them and request updated versions. Before submitting your income tax return, make sure the information on Form 16s is correct.
Q11. Does filing ITR with multiple Form 16s differ from filing with one?
Indeed, there is a minor distinction when completing an ITR using numerous Form 16s; that is, you must compile the income you have earned and the TDS withheld from various sources and employers. Apart from this, filing an ITR involves the same steps.
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