CBDT notifies ITR-1 Sahaj, ITR-4 Sugam for financial year 2024-25, All You Need To Know
The new financial year has started from 1 April 2025. After which taxpayers have started preparing to file their income tax return (ITR 2025) for the previous financial year.
At the same time, the Income Tax Department is expected to notify the filing form for the financial year 2024-25 or assessment year 2025-26 soon. In such a situation, before filing income tax return, it is important for taxpayers to ensure that they have all the necessary documents. It is very important to have updated Form-16, especially for salaried people.
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What is Form 16 and why is it important?
Actually, to file Income Tax Return (ITR Filling 2025), Form-16 is issued to the employee by the employer. This document contains details of the employee’s salary and the deduction of Tax Deduction at Source (TDS) during the financial year. Therefore, this is a very important document for a salaried person.
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