Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: cpt :: ACCOUNTING STANDARDS :: TDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Govt to simplify income tax laws, sets up task force under taxman Arbind Modi to study overhaul
 Infosys to configure GST network for filing returns
 Save income tax through mutual fund investment. All you need to know
 Income tax returns (ITR): On sale of property, here is what you should know
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961

Collect these papers to start individual tax return filing process
April, 18th 2016

The financial year has just ended, and it is important for individual taxpayers to start putting together the documents necessary for initiating the process of filing their tax returns.

Documents
Typically, four sets of documents need to be collected by the taxpayer: Proof of income earned Proof of tax paid Proof of expenses incurred that are subject to deduction Proof of investments that are allowed as deduction

Proof of income
Salary slips, bank statements, shares and other investments transaction statements, property sale papers and all documents that reflect income during the financial year need to be collected to calculate the total income received by the taxpayer.

Proof of tax paid
Form 26AS lists all the tax payments made by or on behalf of the taxpayer. Salary earners need to collect Form 16 from their employer, and others need to collect form 16A from those who have deducted tax on their behalf. Advance tax challans for tax paid during the year also need to be submitted.

Proof of deductible expenses
Bank statements, receipts for deductible expenses incurred for business or profession, as well as receipts for medical and life insurance premiums need to be filed.

Proof of investments
This includes investment holding statements and proofs of investment in securities that are allowed as deduction under Section 80C, such as PPF account statements, NPS statements, salary slips, premium receipt for investment in life insurance, etc.

Points to note
a) The documents can be submitted in the form of hard copies or soft copies.
b) Receipts issued for donations made during the year to approved institutions also need to be included to take advantage of the deduction provisions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions