Introduction to Income Tax Return Filing
Filing income tax returns is a crucial responsibility for salaried individuals. It ensures compliance with tax laws and helps in claiming refunds for excess tax paid. The process involves reporting income, deductions, and tax credits accurately.
Importance of Form 26AS, AIS, and TIS
Form 26AS: This form is a consolidated tax statement that includes details of tax deducted at source (TDS), tax collected at source (TCS), and advance tax paid by you. It is essential for verifying the tax credits claimed in your income tax return.
AIS (Annual Information Statement): AIS provides a comprehensive view of your financial transactions during the year. It includes details of income, investments, and other financial activities, helping you ensure that all your income sources are reported accurately.
TIS (Taxpayer Information Summary): TIS is a summary of the information available in AIS. It helps in cross-verifying the data and ensures that there are no discrepancies in the reported income and tax details.
Why Prefer Tax-Efiling.com
- User-Friendly Interface: The website offers an intuitive design that simplifies the filing process.
- Comprehensive Resources: Access to guides, FAQs, and support for all your tax-related queries.
- Secure Filing: Ensures the safety of your personal and financial information during the filing process.
- Timely Updates: Stay informed about the latest tax regulations and deadlines to avoid penalties.
- Tax Regime Comparison: We compare tax calculations under the old regime and the new regime before finalizing the return, ensuring that the most beneficial regime is selected for the taxpayer.
Conclusion
Utilizing Tax-Efiling.com for your income tax return filing can streamline the process and ensure compliance with tax laws, making it a preferred choice for salaried individuals.
Information Required for Filing Income Tax Return
- PAN Card: Permanent Account Number (PAN) is mandatory for filing income tax returns.
- Form 16: Issued by your employer, it contains details of your salary and the tax deducted.
- Form 26AS: Consolidated tax statement that includes details of tax deducted at source (TDS), tax collected at source (TCS), and advance tax paid.
- AIS (Annual Information Statement): Provides a comprehensive view of your financial transactions during the year.
- TIS (Taxpayer Information Summary): Summary of the information available in AIS.
- Investment Proofs: Documents related to investments made under Section 80C, 80D, etc., for claiming deductions.
- Home Loan Statements: Details of principal and interest paid on home loans for claiming deductions.
- Rent Receipts: If you are claiming House Rent Allowance (HRA) exemption.
- Other Income Proofs: Details of any other income such as rental income, capital gains, etc.
Tax Return Filing for Salaried Person Having Income from Salary and Income from Bank Interest
Our service for filing income tax returns for salaried individuals with income from salary and bank interest is available at a rate of Rs 799 only. This service ensures that all your income sources are accurately reported and the most beneficial tax regime is selected for you.
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