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How to file your IT returns

It is now mandatory for individuals with income of R5 lakh or more to e-file their income-tax returns. Here is a guide to the process.

business Updated: Jul 27, 2013 02:17 IST
HT Correspondent
HT Correspondent
Hindustan Times

Income from salary
If you are a salaried employee and have income from no other sources, you need these documents:

Form 16: Most of you would have received or would soon get your Form 16 for 2012-13 from your employer. This is a financial statement that details your income and taxes paid during the year. If you who have changed jobs, you will have multiple Form 16s given by your current and previous employers.

Form 12 BA: This statement is given only to those employees whose salary packages come bundled with holiday and credit card expenses.

Pension certificate: Many individuals receive pension from their previous employers. Keep this handy.

House property
Home loan certificate: If you have a home loan, your bank gives you a statement and certificate containing the details of principal and interest rate payments.

Keep this handy along with the taxes paid on your property.

Rental income: If you have rented your property, a rental income statement is needed.

Other income
Form 16A: If you have additional income such as interest earned on bank deposits or professional fees, you need this form. It is a statement that details such income, other than your salary, on which taxes have been deducted at source (TDS). Collect all your TDS statements.

First Published: Jul 26, 2013 23:35 IST