Recording of Income Tax Return is the way toward pronouncing one’s salary and pay charge paid subsequently by the assessee to the evaluating officer. Salary expense form contains points of interest of wage earned by an assessee from various sources, subtle elements of duties paid or deducted, for example, Advance Tax, TDS or TCS and points of interest of wage impose refundable to the assessee by the division assuming any.
What are the Documents required for Income Tax Filing?
PAN Card Copy
- Copy of PAN card of Tax payer
Form 26 AS
- Summary of taxes deducted on your behalf and taxes paid by you. This is provided by the Income Tax Department.
- Issued by your employer for salaried employees
Section 80 Investments
- Section 80C investment documents. Investment made under PPF, NSC, ULIPS, ELSS, LIC qualify for deductions under Section 80C.
For Interest Income
- Bank statement/passbook for interest on savings account. Interest income statement for fixed deposits. TDS certificate issued by banks and others.
Other Invest Documents
- Your contribution to Provident Fund Your children’s school tuition fees,Life insurance
Process for Income Tax Filing ?
- Ascertain the salary earned in the significant budgetary year from every one of the sources
- Ascertain the assessment payable on the earned pay subsequent to deducting any expense acknowledges, for example, TDS, TCS or Advance Tax.
- Any assessment payable ought to be paid before recording the arrival of wage.
- Important ITR ought to be loaded with all the essential subtle elements.
- Present the appropriately filled ITR to the concerned Assessign Officer.