To avoid the same, we have compiled a checklist of requirements to make the process as quick and easy as possible. Remember that before you begin, you must always pay keen attention to every little detail.
- Collect All Documents Required to File the ITR To make the process easier, make sure you have access to the following documents in front of you.
- Form 16 – TDS certificate issued by your employer
- Interest certificate from banks or any other financial institutions
- Form 26AS of the previous financial year
- Proof of tax-saving investments/exemptions
- Aadhar card
Deduct the exemption amount, and you will arrive at your total taxable income which will have a certain tax liability with it. You can easily calculate this and then deduct the amount mentioned in form 26AS. You will now arrive at a certain figure which will make it clear if you are eligible for a refund or if you still need to pay more tax. If you need to pay more tax, then make sure you pay it before filling out the ITR form.
Keep Calm and File Your Income Tax ReturnsWhen the final dates for filing returns loom over our heads, we may find it difficult to make sense of it all. But keep a calm temperament, and you will find that ITR filing is not as complicated as it sounds. Ultimately, the satisfaction from having understood the system is well worth the time and effort.
Click here to visit our personalized online advisor that gives you the financial expertise you need.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
Disadvantages of Early Retirement - What Happens When You're Not Working?
Early retirement seems to be good, many people enjoy life without working especially with extra earnings. But they are not aware about the cons. Lets explore the disadvantages of retiring early to save your retirement life.
5 Benefits of Health Insurance that Makes it a Must Have Cover
Here are the 5 benefits of health insurance that makes it a must to cover
When Should You Withdraw Money from a Mutual Fund?
In case of a sudden change in fund strategy or an underperformance scheme for more than 3-4 years, it makes sense to withdraw money.
How To Apply For Personal Loan
Applying for a personal loan has become extremely easy these days. With the increase in applicants, banks and other financial institutions have made the process very simple.