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Know About the Filing of Income Tax Return

In this presentation, we are trying to describe the complete & simple process of ITR filing, necessary steps and mandatory documents.

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Know About the Filing of Income Tax Return

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  1. Know About the Filing of Income Tax Return

  2. Income Tax Return Definition TheIncome-taxreturnisaformwhichisfiledbythe personwhohaspaidtaxesorhasbeenchargedto paytaxwithataxingauthoritythatreportsincome, expenses, andothersuchliabilitiesanddetailsof relatedtaxinformation. ThefilingofITreturns enablestaxpayerstocalculatetheiractualtax liability, andactuallywhathasbeendeductedand howmuchamountoftaxiseligibleforhimtogetin theformofarefund.

  3. Who is Required to file ITR? All salaried person A business person A person who has made any capital investment or related transaction Any person receiving the income from any other source.

  4. Income Tax Return Filing Process Itshallvary, basistheincomeearnedperyear andincomesourcesuchassalariedpersonshave differentproceduretobefiled, businesspersons havetoshowtheprofitearnedagainst investmentwhichcouldbeloss/profit, anysuch investmentmadeandprofitearnedonit, etc. Beforefilingwhenneedtobeper-preparedwith allthedocumentswithdesirabledetailstobe filledintheITR.

  5. Documents Required for ITR Filing In case of Salaried Employees PAN number Form 16A and 16 B etc issued by your employer Salary/income details, Bank statements Investment details Contribution if any Donation made if any

  6. For Deductions: Section 80 Investments following are qualified deduction: The investment made under PPF, NSC (National Saving Certificate), LIC ULIPS(Unit-linked Insurance plan), ELSS (Equity linked saving Scheme)

  7. To claim certain expenses: Contribution to Provident Fund Fees paid for children’s school tuition fees Payment of Life insurance premium Stamp-duty and registration charges if any Principal repayment on the home loan Equity Linked Savings Scheme Mutual funds investment

  8. Let's talk Get In Touch Don'thesitatetoreachout. Phone Number 9870310368 Website https://enterslice.com/ Email Address info@enterslice.com

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