Form 26AS

What is Form 26AS? Why should a taxpayer know details about this form while filing an income tax return?

by
What is Form 26AS? Why should a taxpayer know details about this form while filing an income tax return?

Form 26AS is the annual tax statement that provides taxpayers access to the tax deduction/tax collection details and income. It contains comprehensive information related to salary income, business and professional receipts, interest income earned on bank deposits, etc along with the respective tax deduction/collection details. These details are generated based on returns of tax deductions/collected … Read more

Income tax returns: What makes Form 26AS crucial & what not to miss to ensure your filing is stress-free

by
Income tax returns: What makes Form 26AS crucial & what not to miss to ensure your filing is stress-free

One of the most important digital initiatives of tax authorities has been providing Form 26AS to each taxpayer. Known as the Annual Tax Statement, Form 26AS combines all incomes and corresponding taxes for the taxpayer for a given financial year (FY), as reported to tax authorities. Alok R Agrawal, Partner at Deloitte India, says, “Form … Read more

Income Tax Return: How to access and review your Annual Information Statement before filing ITR

by
Income Tax Return: How to access and review your Annual Information Statement before filing ITR

ITR filing 2024: The deadline for individuals to submit their Income Tax Returns (ITR) is July 31, 2024, which is just a little over a month. It is essential to compile and organise pertinent documents such as salary or income records, bank statements, and previous tax returns in preparation for filing. When filing taxes, it … Read more

Income Tax returns: 5 crucial steps to follow as soon as salaried employees get their Form 16 this month

by
Income Tax returns: 5 crucial steps to follow as soon as salaried employees get their Form 16 this month

Income Tax Return: This month, employers are scheduled to issue the Form 16 every year on or before June 15. Following this, salaried individuals can expedite the income tax return filing process. Form 16 is one of the several  Form 16 is a crucial document that plays an instrumental role in filing income-tax returns (ITR), especially … Read more

To beat the last minute rush, some taxpayers start filing ITRs early

by
To beat the last minute rush, some taxpayers start filing ITRs early

To beat the last minute rush, at least some taxpayers have started filing their income tax returns for assessment year 2024-25 after the Central Board of Direct Taxes (CBDT) enabled functionalities for commonly used income tax returns from April 1 this year. According to data with the income tax department, as many as 119,000 income … Read more

ITR Filing 2024: Do you need Form 26AS? Know how to download & why it is mandatory for you

by
ITR Filing 2024: Do you need Form 26AS? Know how to download & why it is mandatory for you

ITR Filing 2024: The Income Tax return filing season has started. Along with the tax filing procedure, salaried individuals and taxpayers are also planning their taxes, and investments for this financial year. Basically, every taxpayer aims to look for ways to reduce their tax liability in a given financial year. Before filing income tax returns, … Read more

ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here

by
ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here

The income tax return forms, ITR-1, ITR-2 and ITR-4, for FY 2023-24 (AY 2024-25) are now available for e-filing on the Income Tax department portal. The online ITR forms were made available from April 1, 2024. Taxpayers eligible to file their tax returns can now login and fill their ITRs for FY 2023-24 using these … Read more