Now that the tax-saving exercise is done, we have to move on to tax filing. It is a daunting task for most of us as even the slightest mistake or mismatch could land us in trouble with the Income Tax Department. This year to make matters worse, there is a penalty for missing the income tax return (ITR) filing deadline, i.e., July 31.
A lot of people take the help of professionals like chartered accountants to file their returns and some do it on their own. If you are someone who files your ITR on your own and need a little handholding to sail through the process, look no further. Here you will find a spectrum of articles you can use to file your ITR with ease. Bookmark this page as we will be updating this page regularly with all the stories you need to file your income tax return.
These include rules to follow while filing your returns, what figures to check in your Form 16, how to use Form 26AS, how to file your returns without Form 16, how to e-file your returns, how to calculate capital gains, how to rectify mistakes, and many more. For later filers, you will also find articles on how to file ITR after the due date, what happens if you miss the deadline, and how to file a belated return.
10 documents you need to file your income tax return
For this financial year, taxpayers need to provide a break-up of their gross salary income and income earned from one house property in ITR1. Here are the 10 documents you must keep in handy while filing your ITR for FY 2017-18.
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Which ITR form applies to you for financial year 2017-18?
Choosing the right form is important as a wrong form will make your return defective. Various factors like the type of income, quantum of income, residential status of the tax payer etc. need to be considered to select the right form.
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How to fill the new details required in ITR-1
The income tax department has uploaded the new income tax return (ITR) Form1 or Sahaj for the financial year 2017-18 on its e-filing website. This is the form that is used by most of the salaried class to file their ITRs. While Form16 provides you all the details regarding your salary income, here’s how you must fill the required details to file your return correctly.
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Received Form 16? What figures to check and where
As per income tax rules, the last date by which the employers were supposed to furnish the Form 16 to the employees is June 15 of every year. If you have received Form 16, and you have income only under the income head ‘salary’, you can go ahead and file the income tax return. Read this story to see what figures you must check in your Form 16 to file your tax returns.
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Form 16 code cracked: How to get all your tax troubles sorted in a new job
Form 16 is used by an employed taxpayer to file their income tax return (ITR). A big problem faced by many during tax filing time is if they have switched jobs during the year. It could so happen that the employee had switched jobs in the last FY and has more than one Form 16 from all employers or only from the current employer but not from other employer previous employers. Here’s a step-wise approach to consolidate the numbers, under various circumstances.
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What is Form 26AS and how does it help in filing income tax return?
Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by all taxpayers using their Permanent Account Number (‘PAN’). If you have paid taxes on your income or tax has been deducted from your income, the Income tax department already has these details in their database.
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How to file your return using ITR1 form
ITR1 is the form used by most salaried taxpayers and unlike last year, this year’s form requires you to give a detailed break-up of their salary income and income from house property.
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6 steps to file income tax return online
It is best to start the ITR filing process as soon as possible. Getting a grip on what all you need to file your return and some organised effort will see you through to the other side of 31 July without too many hassles.
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Step-by-step guide to filing ITR1
If you are someone who files your ITR on your own and need hand-holding to sail through the process, look no further. Here you will find all the articles you need to your ITR1 with ease.
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How to file ITR with salary income and home loan
This story will tell you how to fill ITR if you have salary income and are servicing a home loan for a self-occupied property. You will have to use ITR1 form to file your returns.
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How to get errors in your Form 26AS corrected
It is essential that they check your Form 26AS, i.e., the statement showing TDS details from various other deductors, before filing your ITR. You should check it to see if there are any errors. Here is how to get the errors rectified for the income tax return process to be smooth.
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ITR4 for FY2017-18: The Sugam return filing tool for self-employed
Self-employed people can file their their returns using ITR-4, instead of ITR-3, which individual businesspersons otherwise have to use. Here’s a guide on filing returns using form ITR-4.
