Income Statement: Since the beginning of March, people begin to prepare to declare income tax. Due to the change in tax forms and many paperwork, some people have many questions in mind before filing. On the other hand, both small and large taxpayers face difficulties when presenting the ITR. Also preparing to file taxes? Before this, paying attention to a few important things, you can get rid of it for the whole year. Other than this, check the documents carefully.
Documents necessary for the income tax declaration
- The PAN card is the most important document to file income tax online.
- The PAN card and the Aadhaar card must be linked.
- Bank statement
- Take the certificate of interest from the bank where you have the account or from the post office.
- Investor certificate to qualify for tax exemption.
- A pay stub may be required while the tax is paid.
- Don’t forget to bring the TDS certificate.
- Apart from this, the obligatory nature of the Model 16A/16B/16C and 26AS.
Different types of ITR forms
Usually, people file their income tax online. At present there are 7 types of forms available on the official website for the year 2022-23. It has been named from ITR-1 to ITR-7. The forms may be larger or smaller while filling depending on the profit and loss. Other than this, definitely take information on everyone.
Register on the portal before filing taxes for the first time
If you are going to declare income tax for the first time, then it is necessary to register on the official website. On the other hand, if you already have an account on the e-filing portal, you can log in by entering your user ID and password. After this, open the e-file section on the home page. File the tax by clicking on File Income Statement here.
You must verify the TDS and TCS information
Before filing the tax return, please read the Form 26AS carefully and check the TDS and TCS details in it. If according to you there is some type of problem in this form, then it can be corrected in about 7 to 10 days. On this phone, apart from the rent, the interest rate, the salary, let’s review the information about the origin of your income.
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