Preparation of Income Tax Return

31^st July 2019 is the last date of filing income tax return for financial year 2018-19. Before filing your tax returns to the income tax department, government gives you 4 months period so that you can organize all your documents such as income details, bank statements, previous tax statements etc. When you accumulate all your income details as well as the documents related to it, it becomes easy for you to file income tax returns.

If you will prepare yourself before filing the tax returns, there are less chances of errors and you don’t have to face fines, penalties etc. The procedure of return filing varies for an individual and self-employed person as individual earns income from salary & a self-employed person have a business income.

1. Bank statement
2. Proof of investment & form 16 (certificate issued by employer containing your income details in a particular financial year)
3. Form 16A/ TDS certificate
4. Tax payment challan such as advance tax or self-assessment tax
5. Property investment proof
6. Documents related to purchase & sale of assets/ investments.
7. Collect the home loan certificate
8. Collect the TDS certificate.