It
is my constant endeavor to share knowledge & information to increase the
awareness about the provisions of taxation because lack of awareness is the
main reason for low level of compliance towards tax laws.
The
filing of ITR is a legal obligation of every person whose total income during
the previous year ( i.e. F.Y.2013-14) exceeds the maximum amount which is not
chargeable to income tax ( i.e. Rs.2,00,000/-).
Presently
there is an emphasis on self compliance by the taxpayer and Income Tax
department, except in few cases, accept your ITR as it is by intimation given
under section of the 143(1) of the Income tax Act. Therefore it is expected
that taxpayer should disclose correct & complete information while filing
ITR.
As
31st
day July is last date for filing your “Income Tax return’ for
the Financial year 2013-14 (i.e income
earned during the period from 01st April to 31st march
2014), we are sharing here some tips on filing of ITR.
Be
sure to collect following documents & information before starting filing
return or approaching your Tax consultant for filing ITR:-
1.
Salary certificate issued by Employer
2.
TDS Certificate i.e Form-16 in case of Salaried person and Form 16A for income
other than Salary
2.
Certificates/Receipts of payment of
(a) insurance premium,
(b) Provident fund or passbook of
PPF account
© Purchase of NSCs,
(d) Medical insurance,
(e) Tuition Fees receipts
(f) Donations if any made
3.
Certificate of interest on housing loan for claiming deduction from income
under House Property.
4.
Photocopy of Banks pass book along-with information about debit and credit
entries. Kindly note that every bank account should be
covered including FDs if you have.
5.
Detail will be required, If you have purchased or sold any immovable property
during the FY 2013-14.
6.
Details of Bank Account in which you want to receive your Income Tax Refund
if any. Then details required will be as under:-
Bank
Name:
Account
Number & Type,
Branch
Name:
MICR
No.
you are welcome in case you require any further clarification/assistance for your compliance towards taxation.
