Form 16 & ITR
|I have lost my form 16, what is the procedure for filing now?
Unless it is a refund case, your form 16 will not be required, you can use multiple alternate sources for generation of ITR and you can go ahead with the filing. However, if it is a refund case, then you can simply request the HR / Finance team to issue a duplicate after signing an indemnity bond.
With so many ITRs, what is applicable when?
If you have income only from salary or pension or family pension and bank interest then file ITR1. In addition to above incomes, if you have rental income, capital gains and income from other sources, then file ITR2.
I have received a form 16A from the bank for the Bank deposit held? What needs to be done with the same? Is it different from receiving a Form 16A from employer?
The form 16A from Bank refers to the TDS certificate on the interest you have earned from the deposits therein. You need to declare the interest income as ‘Income from Other sources’ and show the TDS as well and then bring in the calculation.
It is different from the Form16A received from employer, if you are consultant you are likely to receive this, you need to submit ITR 4 for the same, since you will be assessed u/h ‘Income from Profession’