Erroneous mismatches in your tax return can avoid delay, scrutiny, or loss of refund.
Mismatch between Form 16 and Form 26AS can result in scrutiny—here's the way to correct it before filing your ITR.
Form 26AS is a return that captures tax paid or deducted already on your account. Use the following steps to download and utilize it while filing your ITR.
Salaried employees must check their bank statements to detect any additional sources of income beyond salary, such as interest income or dividends
As per income tax rules, interest received from savings bank account, post office savings account, fixed deposits, and recurring deposits are taxable.
ITR filing: Before the introduction of AIS, most of the details were available in the taxpayer’s Form 26AS. AIS shows details of property purchases and TDS/TCS transactions, among others, carried out during the fiscal year.
As part of Moneycontrol’s income tax return-filing series, Preeti Kulkarni speaks to Mayur Shah of EY to understand why it is important to check and verify Form 26AS before you go ahead with your return-filing exercise.
While filing your Income Tax returns, one must make sure to check Form 26AS as it reflects not just the TDS deductions by employer or bank, but also the details of various financial transactions. In this video, we will tell you all you need to know about Form 26AS, so you can complete the verification process before filing your Income Tax returns.
The Government has proposed to widen the scope and reduce the threshold of various transactions to further include even white good purchases, property tax payment, medical and life insurance premium and even hotel payments.
Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number (PAN).
Form 26AS, also known as Annual Statement, is a document that provides details of TDS, refunds associated with a PAN in a particular financial year
Form 26AS contains all details of taxes deducted and deposited by the deductors or paid by the taxpayer himself.
Very often no tax deducted at source (TDS) is taken to mean no-tax liability, which is a big mistake. Individuals have to include interest paid to them without deducting tax at source to their taxable income. On the total income so arrived, they are supposed to pay income tax depending on their income tax slab.
Recently this year, the Income Tax authorities in India introduced some new guidelines for filing income tax returns. For example, they have made it obligatory for the businesses to file their income tax returns through the e-form.
Being a responsible citizen, it is your moral duty to pay your taxes to the government, both direct as well as indirect.