Form 16

Deductions missed in Form 16 due to late or non-submission of proofs can still be claimed while filing return

Monthly salary slips of a financial year, annual income statements and Form 26AS among documents that can be used

Income tax department may send notice if the information mismatch is not resolved

Form 16A is issued by an employer or deductor in a financial year

Form 16 is an essential document for filing ITR as it contains details of salary income, deductions, and exemptions

It is a document that employers must submit while filing their taxes to account for income and expenses

Form 26AS is a consolidated tax statement showing taxes deducted, tax credits, income sources, and tax deducted at source (TDS) and tax collected at source (TCS)

The airline has used various avenues to raise cash. In the financial year 2022-23, the airline raised Rs 449.8 crore under the central government's Emergency Credit Line Guarantee Scheme

Missing the deadline for the annual exercise can lead to penalties and more paper work

Income from other sources includes earnings from freelance work, investments, rental properties, or any additional ventures.

Its success, however, will hinge on the quality of online utilities launched along with it

Airline says significant portion of PF contributions of all employees is also being credited and the remaining amount will be released shortly

Individual taxpayers not having business or professional income can use this form

The taxpayers are required to fill out several forms, Form 26AS, Form 16, capital gains statement, and interest certificates, among others. In all the paperwork, some mistakes are bound to happen

Filing ITR is mandatory in order to claim deductions under Chapter VI and exemptions on long-term capital gains; but there are other benefits you need to know about

A mistake in calculating tax liability could lead to a notice from the tax department

Keep rent receipts that serve as proof handy should taxmen come calling

Here is a quick step-by-step guide on how to file your income tax return (ITR) for the assessment year 2022-23

Report any discrepancy between the two documents to the employer immediately and get it rectified

The government had extended the date of filing income tax returns for AY22 to December 31, 2021, from July 31, 2021