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Showing posts from June, 2017

Important things you should know before Filing Income Tax Returns

The deadline to e-file income tax returns for AY '2017-18 is approaching fast. The last date is 31 July 2017 and anyone who has a gross annual income of more than ₹2.5 lakh is lawfully required to file their income tax returns. You should file returns even if you don’t have taxable income because your tax return is an important document. Remember that anyone with an annual gross income of ₹5 lakh and more is required to e-file tax returns. They cannot file physical returns. But before you go about e-filing your tax returns, here are some things that you should know... Information required to file tax returns To file your income tax returns, you will need to have the following information handy: Form 16 if you’re a salaried employeeInterest income detailsPersonal details like PAN, bank account number, etcProofs of tax-saving expenses and investmentsDetails of other incomes, if you have any If you have worked with different companies during the financial year, you should have Form 16…