HOW TO FILE YOUR I-T RETURNS

 

E-Filing is mandatory for all individuals with annual income of Rs. 5lakh or above in India.

I just share with you useful information that how to e-file.

Dear all filing e-returns need not be a nightmarish

 1.       INCOME FROM SALARY

If you are a salaried employed and have income from no other sources, you need these .

FORM 16

Most of you would have received or would soon get your from 16 for Particular financial year

From your employer, income and taxes paid during the year. If you who have changed jobs, you will have multiple form 16s given by your current and previous employers.

FORM 12 BA

This statement is given only to those employees whose salary packages come bundled with holiday and credit card expenses.

PENSION CERTIFICATE

Many individuals receive pension from their previous employers. Keep this handy.

2.       HOUSE PROPERTY

HOME LOAN CERTIFICATE

If you have home loan, your bank gives you a statement and certificate containing the details of principal and interest rate payment. Keep this handy along with the taxes paid on your property.

RENTAL INCOME

If you have rented your property , a rental income statement is needed.

3.       OTHER INCOME

FORM 16A

If you have additional income such as interest earned on bank deposits or professional fee, you need this form. It is a statement that details such income, other than your salary, on which taxes have been, deducted at source (TDS).Collect all your TDS statements.

 

TAX SAVING INSTRUMENTS

You will need to give details of such investments

Section 80C – Investments in LIC,NSC, PPF etc, updated till march 31,

SECTION 80CCC – Investments in pension schemes

SECTION 80CCD – Payments in the National Pension System.

SECTION 80G – Donation made to approved charitable institutions.

SECTION 80E – Interest paid on education loan.

 

HOW TO E-FILE

Go to http:/incometaxindiaefilling.gov.in/

Option –              a) download the applicable ITR

b) Fill it online

c) Generate an XML files and save it

d) Register on e-filling website using your PAN

e) login to portal, Upload return

Option –               a) Register on e-filling website with PAN

                                b) Login to portal

                                c) Go to e-file income Tax return- Prepare and submit Online

 

IMPORTANT – Your Permanent account Number (PAN)

                                Bank Account and its MICR Code  ( you need it )

 

 

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