These returns are being collected on tax returns or income tax returns
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These returns are being collected on tax returns or income tax returns
Home These returns are being collected on tax returns or income tax returns

These returns are being collected on tax returns or income tax returns. All the details are not the same. Individual taxpayers must fill certain pages of income tax statements.   Income tax fair will be run from November 1 to 7. At this time there is a crowd of taxpayers in the fair. If you are a taxpayer, you must fill in a tax return form or income tax return. New tax returns have been introduced in the IT-11C 2016, from 2016 to 2016-17. In the current tax year, this new return form will be used as well as the previous return form IT-11C. Do not fill in the form of new or old form, you will need to add some schedules and statements as needed with the original income tax return. All of this does not apply to you. You can learn what is applicable to the original income tax statement and what information you have to give below. The main return form of the three pages The original return is divided into three parts. General information of part-1 taxpayer. In this section there is room for taxpayer planting right next to the right of the form. It is compulsory for those who are going to pay the first taxes only for them. The image must be attested by the first class gazetted officer or the ward commissioner or any TINholder taxpayer. After every five years, a person-taxpayer has to pay his attested photograph with return. In general information section, from 01 to 23 serials, you have to pay the name, taxpayer name, gender, TIN, circle, tax area, residential status, birth date, income year, and other personal information. Part-2 Revenue and Income Tax Statement, in this section, the income from income tax and tax information from 24 to 48 years is to be mentioned. It has to mention how much taxable income you have received from some sectors. And then you have to mention your final taxation by referring to your total tax, tax credit, source tax. Part-3 instructions, attachments and proofs, in this part of the original return, have to prove and sign the taxpayer. In this section, if a person-taxpayer accepts additional tax-free limits for the disabled child, then his wife / husband has to take advantage of similar benefits. And the list of assets, liabilities and expenditure statements, the details of living expenses related to the returns, and the sources of income for which they are submitted. All these information is given below, “I am proudly proclaiming that the information and the evidence provided in this return and the accompanying or attached affirmations are correct and complete in my knowledge and beliefs”. So when you give any information on the return form, be careful if you are not giving any wrong information. So do not get in trouble. Under this, the full name, date, place mentioning the taxpayer has to be signed. This completes the main return form. And with this, the schedule and statement below must be attached as needed.   Schedule 24A: The details of the salary income The schedule will be completed only if a taxpayer is a job holder. Otherwise it does not need to be attached. In this schedule, to mention the main salary, hiring allowance, medical allowance, travel allowance, festival allowance, and other benefits, mention how much money has been earned in the salaries. Schedule-24B: Description of house-to-house income If there is a taxpayer’s income in the property, then the schedule will be met. Total taxable income is to be excluded from the total income generated from the total house rent. In the schedule, there are three housing properties. If a taxpayer has a homeowner’s income from more than one property, then he can mention income using additional paper. Schedule-24C: Business or profession’s earnings details In this schedule, the total income is to be mentioned in the sale / receipt, total profit, expenditure and net profit. In another part, the balance sheet that is known as a balance sheet has to mention total assets, capital and liabilities. This schedule is for those who have a business or profession, those who do not have income in this sector will not have to submit it. Schedule – 24D: Taxation Reports Many people are afraid to see the tax on income taxable income. But if this taxation is invested and donated in certain sectors, it is possible to get tax rebate on it which helps to understand the tax in large part. In this schedule, you have to mention the investments and donations that you have made in the sector. You do not have to submit this schedule even if you do not have any income or investment in the year.   IT-10B: Assets, liabilities and expenses details Submission of this statement is not mandatory for everyone. You must submit this statement only if one of the three conditions below is satisfied.
  1. A) If the amount of total assets at the end of the year is more than 25 lakhs; Or
  2. B) If there is a motor car (with zip or microbus) owned by the end of the year; Or
  3. C) If you own a property or an apartment in a city corporation area or if you invest in home or apartment.
If you do not meet one of the three conditions above, you can submit this report freely. IT-10BBI: Lifestyle related expenses statement In this particular statement, all the expenses related to your family including living, eating, travel, child-schooling, etc. are mentioned. The total expenditure mentioned in the source below and refunds are to be mentioned. With this proving the name, the date specified by the date, and the signature ends. This will end up completing all the attachments with your income tax statement. From this tax year, the National Board of Revenue has introduced a new form of return ‘IT-11C’ to make return forms payable only to the salaried taxpayers. This form is very small and it is much easier than the above mentioned return form. It requires a lot less information. Therefore, those who have income in salary only, they can use the IT-11C form. It will reduce the time and trouble.   On the other hand, there are different income tax returns ‘IT-11C’ for those taxpayers who have income in the business or profession, and those income is not more than 3 lakh rupees. They can use IT-11C tax returns if they want.  

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