It is that season when the yearly custom of documenting Income Tax Return (ITRs) ought to be finished. This year, citizens will document ITR for the evaluation of FY 2020-21. The most essential - ITR-1 or Sahaj - is to be filled by the salaried class of citizens. The structure this time looks for a survey’s subtleties in discrete fields, for example, remittances don't absolve, benefit in lieu of compensation, and worth of essentials among others.
You should keep this Checklist of records or data for documenting ITR-1 SAHAJ
1. General Information like PAN and Aadhaar card
2. Pay/Pension: Form 16 from Employer(s)
3. Pay from house property
• Rent receipt
• Housing credit account articulation for allowance of interest
4. Different sources like the Bank Statement/passbook for premium on saving records and on fixed stores.
5. Guarantee of deduction under section VI-A
• Your commitment to PF/NPS
• Your Children's school educational expenses
• Life protection premium receipt
• Stamp obligation and enlistment charges
• Principal reimbursement on your home advance
• Equity Linked Saving Scheme/Mutual subsidizes speculations
• Receipt with subtleties of gifts qualified for 80G
• The total measure of allowance acceptable u/s 80C, 80CCC AND 80CCD(1) and will be confined to the most extreme constraint of Rs 1.5 lakh.
6. Top off Schedule Dl on the off chance that you have made any speculation/store/installments between April 1, 2020, to July 31, 3030 to guarantee any derivation under Part B of Chapter VIA
7. Expense Payment Details: Verify the duty installment subtleties as accessible in your structure 26AS.
8. TDS Details
• Verify the TAN subtleties and the measure of credit accessible in your structure 16 (For compensation), 16A (non Salary), and 16C (Rent)
• PAN/Aadhaar of Tenant
In the meantime, as the new Income Tax site faces messes up, the Central Board of Direct Taxes (CBDT) is said to have intended to additionally broaden the cut-off time for recording personal assessment forms (ITR) for the monetary year 2020-21 (AY 2021-22).
As indicated by a report, prior the last date should be September 30 and presently it appears to be that the documenting of ITR will be reached out as the site's errors have not been fixed at this point.
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