Then learn what documents to submit with tax returns and where to collect them.Salaries and bank statements
The taxpayer must collect the salary statement from his organization. The salary statement will be given by mentioning this information that the total salary, house rent allowance, travel allowance, medical allowance, bonus, and the total amount of money earned on the year have been deducted.
After the expiry of the month of June, you can collect the statement of the accounts by contacting the Department Department or Human Resources Division where the salary statement is given.
With this, you will be required to pay the money from the bank as your bank every month, from the year July to June this year, bank statements. After the end of the year, you can collect it by going to the bank.
House rental agreement, rental receipt and bank statement
Taxpayers’ income that comes from house rent must be linked to the contract with the tenant that has been executed. Besides, the copy of the receipt for the rent is given in the rental of each month.
If the house rent is equal to or equal to 25 thousand rupees, then the income received from all the house rent is credited to the bank account. Proof of income from house rent will be submitted to bank statement throughout the year.
Bank loan statement for homebuilding
If you have a loan at the time of making the house, then the bank will have to submit it with a credit report. It is necessary to pay interest on payment of loan installment. Taxable income is calculated after excluding those rent-house rent income. Therefore, it is necessary to submit the bank loan statement with return as proof of interest.
Land revenue, municipal taxes, city corporation taxes, other bills
The owner of the house has to pay land revenue to the tax payers. Besides, municipal taxes, city corporation tax, WASA bill, gas bill, electricity bill etc also have to be paid. These costs are deducted from the income of the house rent and taxable income is excluded. Therefore, these costs have to be submitted as proof of the submission of a copy of the bill.
Real property sale / transfer
In case of sale / transfer of immoveable property, the documents should be submitted.
Other sources of income
There are 10 sectors in the tax returns. One of these is income from other sources. The income that is outside the remaining nine sectors is to be shown in this sector. For example, dividends, savings certificate, interest on bank deposits etc.
In the case of income from these sectors, it is necessary to submit a certificate of profit or a copy of the warrant or certificate, during the time of cash withdrawal certificate or the time taken to receive interest, bank account details of bank interest, etc.
There is an idea that the tax amount on income is much more. So somebody might want to hide the income. However, many do not know the correct tax planning can reduce the amount of income tax in large part. Nobody is hiding income because of not knowing. Someone else may give income tax more.
However, you can get tax rebate on a specific rate by investing in the right sector or by granting it.
To get tax receipt on investment or donation, the National Board of Revenue (NBR) will definitely have to invest or donate money in the scheduled sector. Only then can you claim tax credit.
If you have invested – if you have made an investment or a grant in the case of purchase of shares, purchase of savings certificate, DPS, life insurance premium, donation in the Zak fund recognized, then proof should be submitted with return as proof.
Income tax returns
May have heard of the tax deduction in the source. For example, if you are a job holder, you will notice that salary has been transferred to the bank as a tax deduction from the salary at the end of the month. Those who know business or business, know that you have been paid the rest of the money by deducting the source tax from the source of the sale.
Since you have already given some source of income on income, so at the end of the year when the income tax returns, the total tax liability will be left without paying the tax before the tax liability will be your actual tax.
Now you have to submit the challan copy, pay order / bank draft / account paycheck as proof of the payment of this tax that you have already claimed to be paid.
In case of source tax from the wages, the copy of the challan should be collected from the accounting branch. In other cases where tax on your income has been deducted, you will have to collect the tax deposited from it.
Collect all invoices and submit it with income tax return.