We will be filing our Income Tax return for finacial year 2017-18 (i.e AY 2018-19) by 31st August 2018. Better start its preparation...
We will be filing our Income Tax return for finacial year 2017-18 (i.e AY 2018-19) by 31st August 2018.
Better start its preparation now only to avoid last minute rush and confusions its a small list just read it...
1. Collect your form 16 and 16A. You will have to be ask your employer for getting your form 16. Nobody will give it to you unless you ask for it.
2. Go through your bank statements once as cash deposits are reported to Income tax dept by Banks.
3. If you have sold any property in this financial year, try to calculate Capital gain now as you still have time to avail certain exemption in this regard as a matter of tax planning.
4. If you are married this year (FY 201718) and have received heavy gifts, make proper accounting especially if you are govt. servant.
5. Gather figures of Principle and interest paid for housing loan this year as both figures needs to be put in different columns(sections) of ITR for claiming exemptions.
Be ready with these figures, then filing ITR is a matter of not more than 20 minutes that to on your own.