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| If a person comes under the purview of Income Tax, then he must file ITR. It is mandatory for such individuals to file ITR. For this, the income statement has to be given and care should be taken while doing so. |
New Delhi, Business Desk. It is obligatory for any procuring individual to record ITR whose pay goes under the domain of personal expense. Those whose complete pay doesn't surpass Rs 50 lakh during a monetary year, record ITR-1 (Sahaj). In this, you need to give the subtleties of your pay and keeping in mind that doing as such, insurances ought to be taken. Along these lines, let us let you know today what are the safety measures to be taken while filling the pay explanation in ITR-1.
What are the insurances to be taken while recording return of pay?
- Check the actual TDS/TCS/tax paid in Form 26AS (Annual Information Statement
- If you find any discrepancy in this, you should resolve it by talking to the employer/tax deductor/bank.
- Compile the referenced documents while filing ITR.
- Carefully read bank statements/passbooks, interest certificates, receipts for claiming exemption or deduction, Form 16, Form 26AS (Annual Information Statement), Investment Proof, etc.
- Make sure that all the information in the pre-filled data like PAN, permanent address, contact details, bank account details, etc. is correct.
- Give complete details of total income, deduction (if any), interest (if any), tax paid/collected (if any), etc.
- No document is to be attached with ITR-1.
- File the statement of income on or before the due date.
- Delay in filing return attracts late filing fee.
- After e-filing of the return, e-verify the same.
How to get the filing verified manually?
Assuming that you wish to confirm your return physically, you want to send the marked duplicate of ITR Acknowledgment to the Centralized Processing Center, Income Tax Department, Bengaluru 560500 (Karnataka) in the span of 120 days of documenting.
What is Form 26AS?
Structure 26AS is a yearly data explanation which shows different subtleties including charge deducted/gathered at source, advance expense/self appraisal charge, determined monetary exchange interest/forthcoming discount/PAN of the citizen according to the information base of Income Tax Department.
