Before filing your Income Tax Return (ITR) for Assessment Year 2024-25, it's essential to be aware of various forms you may need, based on your income sources and financial transactions during the year. Here are some crucial forms to consider:
Form 16: Issued by your employer, this form summarizes your income, deductions, and taxes deducted at source (TDS) during the year.
Form 16A: Provided for non-salary income such as interest or rental income, detailing TDS on these earnings.
Form 26AS: A consolidated tax statement reflecting TDS, TCS, and advance tax deposited against your PAN.
Form 15G/15H: Submit Form 15G (for individuals) or Form 15H (for senior citizens) to avoid TDS on interest income if your total income is below the taxable limit.
Form 26QB: Used for the payment of TDS on property sales.
Form 10E: Necessary if you are claiming relief under Section 89(1) for salary arrears.
Form 67: Required if you have foreign assets and need to report them along with your ITR.
Form 2E: For reporting agricultural income.
Form 10BA: Submit this if you are claiming a deduction for rent paid under Section 80GG.
Form 10I: Required for claiming a deduction under Section 80-IAC for investments in startups.
Form 10IA: Needed if you have a Special Economic Zone (SEZ) unit and are claiming a deduction under Section 10AA.
Form 10IC: File this if you have a unit in a notified backward area and are claiming a deduction under Section 80-IC.
Ensure you accurately complete all relevant forms and disclose all income sources to avoid scrutiny or penalties from the Income Tax Department. Consulting with a tax professional or using online tax filing platforms can help ensure compliance
No comments:
Post a Comment