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Every Salaried Individual Has to file income tax return who has income more than Below taxable limit.e Rs 250000 in Financial Year. Salaried Person, Retired Pensioner, Women Who earns only from the Interest, Army Peron, The person who does the job and earns more the Basics exemption limit U/s 250000. Salaried people get Form 16 which gives information of salary earned and advance taxes paid.
Besides the basic salary there are other components being benefits which are wholly or partially taxable. Further, there are tax saving options like eligible investments under SEC 80C , donations made etc. You are required to upload Form-16 and Form-26 AS (mandatory) to get a CA assigned on your order. We request to upload these documents within hours of plan purchase to help us assign a CA and file your returns on time.
- Salaried individual with single or multiple Form 16
- Individuals with house property Rented or Salaried Individual Both
- Tax filing for Salaried individual with Other Sources like interest Income Casual income etc
- Form 16 from your company
- Additional Form 16
- Form 26AS Tax Credit Statement
- Aadhar card
- Bank statement
- Details of House Property
- Other Documents
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Rental Income on a let out property
Annual Value of a property which is ‘deemed’ to be let out for income tax purposes ( when you own more than one house property)
Annual Value of the property which is self occupied, which is Nil
Under section 24 of the Income Tax Act you are allowed to make certain deduction from the Net Annual Value of your House Property. Net Annual Value is Gross Annual Value less Municipal Taxes Paid. In case the property is let out, its rent received is your Gross Annual Value, whereas in case of a deemed to be let out property, a reasonable rent of a similar place is your Gross Annual Value. For a self occupied house property the Gross Annual Value is Nil.