When filing your ITR, as a salaried class member, there are a few key considerations to make. There are a few things to consider before filing an income tax return for the first time for members of the salaried class.
On July 31, 2024,
income tax returns for the fiscal year 2023–2024 and the assessment year 2024–2025 must be filed. If you belong to the salaried class in such a case, submit your IT return as soon as you can. Verify that your Aadhaar and PAN are connected before paying your income taxes. The account from which you wish to receive the reimbursement must also be verified in addition to this.
When filing your ITR as a salaried class member,
there are a few items you should consider. By doing this, you’ll avoid running into issues later. Selecting the appropriate ITR form is crucial for the taxpayer before submitting their return. Salaried individuals can fill out Form ITR-1 if their annual income is less than Rs 50 lakh.
You also need to bring copies of your Form-16,
AIS (Annual Information Statement), investment certificate, TDS certificate, and housing rent receipt with you when filling out the ITR form. Ensure that all the paperwork are carefully checked and kept together before filing your ITR. Additionally, carefully cross-check the pre-filled data. ITR e-verification is required after filing. You won’t be able to submit your IT return as complete without e-verification.
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