india employmentnews

Income Tax Tips: If you are going to file ITR, then keep these documents ready first..

social media

The time has come to file an Income Tax Return (Income Tax Return Filing 2024). Before 31st July 2024, all taxpayers will have to file their returns (Income tax Return). Often, while filing ITR (ITR file kaise kare), we look for the documents related to it. In such a situation, time is also wasted and trouble is separate.

Fill in all the information correctly
To save time and avoid trouble, taxpayers should keep all the necessary documents in one place before filing an ITR. This will make the process of filing returns (important documents for ITR File) very easy and there will be no problem while filing ITR. The taxpayer should take special care of one thing he should fill in all the information in ITR correctly. If any mistake is made, ITR is rejected by the Income Tax Department. Come, let us tell you which documents you should keep ready while filing your income tax return.

Form-16 of the old company
Form 16 is very important while filing returns. Although Form-16 is issued by the company. But, if the taxpayer has changed the job in the financial year, then he should take Form-16 from the old company before filing the return. Form-16 contains all the information about the taxpayer's income along with the details of Tax Deduction (Form-16 kya hai) at Source (TDS).

Before filing the return, the taxpayer must check whether all the information in Form-16 is correct or not.

An interest certificate will be best
We get interest on the amount deposited in the bank. If we have invested in FD (Fixed Deposit) or any other scheme, then we also have to give information about the return received on it to the Income Tax Department. The best way to get all the details like interest and return is an Interest Certificate. The interest Certificate contains information about the rest of the interest along with the bank interest. If interest of up to Rs 10,000 is received annually on the savings account, then there is no tax on it.

Income source information
Many taxpayers earn income from many other sources along with the job. For income, they invest in many places like Mutual Funds or share markets, etc. Information about these investments also has to be given to the Income Tax Department. While filing an ITR, the taxpayer has to tell where he has invested and how much profit he has got from there (Income source details for ITR File). If the taxpayer has got capital gain through investment, then its details also have to be given in ITR.

Housing loan certificate
If the taxpayer has taken any kind of loan, then he also has to give its information to the department. If a taxpayer has taken a housing loan, then before filing the return, he must take the interest on the housing loan and capital repayment certificate from the bank or financial institution. With the help of this certificate, he can claim for tax deduction.

Annual Information Statement (AIS)
An annual Information Statement (AIS) is very important while filing an income tax return. Although AIS is provided by the Income Tax Department. The taxpayer must check that the information given in ITR and AIS (Annual Information Statement) matches.

If there is any difference in it, then the ITR will be invalid and a notice (Income Tax Notice) can also come from the department. If the information given in ITR and AIS is mismatched, then the taxpayer should immediately go to the Income Tax Department and get it corrected.

Follow our Whatsapp Channel for latest update