Filing Income Tax Return or ITR is a major requirement for salaried professionals. It is mandatory and with time filling the ITR has become easier and faster today. If you are unsure about the amount you may use the online Income Tax calculator available online. This is a free and easy tool to use and by providing some basic information it helps you compute the tax.
Now that you will be filing your ITR here are some basic things you must bear in mind –
- You do not need to provide your date of birth while e-filing your ITR.
- ITR-based paperwork can be accessed easily now as they are password-free as compared to the earlier practice.
- On the TRACES portal you can easily access Form 26AS and download it without any trouble.
- As compared to earlier you can skip the verification option at the time of e-filing the ITR.
- Using the previous year’s Form 26AS or ITR you can use the ‘auto-populate’ checkboxes. With this you won’t have to manually fill in the details when you file ITR for the financial year 2017-2018.
- Make sure your TDS details matches with those of Form 26AS. Failure to do so you may lose some credit available to you.
Also Keep the important documents handy before filing the ITR such as your salary slips, income tax Form 16, interest certificates of bank and post office, Form 26AS, investment proof, deductions under Section under 80D to 80U, home loan statement from NBFC or financial institution, capital gains and Aadhaar card.
Additional read: 6 Things to Consider Before Filing an Income Tax Return