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The <keyword id="19938467" type="General" weightage="20" keywordseo="deadline" source="keywords">deadline</keyword> for filing your <keyword id="19995225" type="General" weightage="20" keywordseo="income-tax-return" source="keywords">income tax return</keyword> for AY 2024-25 i.e. July 31st is knocking right at your door. If you are yet to file your <keyword id="19897621" type="General" weightage="20" keywordseo="itr" source="keywords">ITR</keyword>, you still have some time. But there are certain things that you must remember and double-check before you click on submit ITR-from picking out the right form to ensuring that all the details you’ve furnished are correct. Read on to know the top five things that you must remember before <keyword id="19942833" type="General" weightage="100" keywordseo="ITR-filing" source="keywords">ITR filing</keyword>. <h2>Linking your PAN with Aadhar is mandatory</h2>Before you file your ITR, ensure that your <keyword id="19985317" type="General" weightage="20" keywordseo="Pan-card" source="keywords">PAN card</keyword> is linked to your <keyword id="19952125" type="General" weightage="20" keywordseo="Aadhar-card" source="keywords">Aadhar card</keyword>. You can’t file your ITR without linking your Pan to Aadhar first. This can be done online. In case you’re wondering whether or not your PAN is linked to your Aadhar card, you can visit <a href="https://eportal.incometax.gov.in/iec/foservices/#/pre-login/verifyYourPAN">this</a> link and verify. However, remember that this process can take up to 6-10 days to complete, so you'll have to jump aboard the belated ITR bandwagon in case you've just initiated the linking process. <h2>Pick the correct form</h2>Choosing the correct form is one of the most important things that you need to keep in mind while filing your ITR. For instance, the ITR-1 form is designed for resident individuals who have income from salary, one house property, and other sources such as interest or dividends, provided their total income does not exceed Rs 50 lakh. On the other hand, ITR-2 is applicable to individuals and Hindu Undivided Families (HUFs) with income from capital gains or foreign assets.<div type="Article" hostid="261" msid="111406215" title="Wondering which ITR form is right for you? Know all about it here" mstype="2" mssubtype="0"></div> ITR-3 is applicable for those who have income from business or professions, or those who are self-employed. ITR-4 is filled by those who opt for presumptive taxation. <h2>Remember to <keyword id="22469557" type="General" weightage="20" keywordseo="e-verify" source="keywords">E-verify</keyword> your return: </h2>Think you're done with your ITR filing? Think again! You will also need to e-verify your return. If the e-verification is not done within 30 days from filing your ITR, it will be rendered invalid, and will be considered as not filed. You will also not receive any refunds in the absence of e-verification of your ITR. You can easily e-verify your ITR via generating an OTP on your mobile number linked with Aadhar, or by generating an electronic verification code (EVC) through your pre-verified bank account or demat account. <h2>Check your documents and details</h2> When you are trying to get things done quickly, it isn’t uncommon to forget double-checking the details entered. Do remember to double-check all the details that you enter in your ITR. Also, filing an ITR requires certain documents like bank statements, investment proofs, <keyword id="19948097" type="General" weightage="20" keywordseo="tds" source="keywords">TDS</keyword> certificates, Form 16 etc. Even though you don’t have to attach these documents in the ITR, you must keep them handy. <div type="Article" hostid="261" msid="111402608" title="ITR filing: Documents you need to file your income tax return" mstype="2" mssubtype="0"></div> <h2>Check income and investment details</h2> If you have just one source of income, the process is easy as you just need to mention that in your ITR. However, if you have <keyword id="22106780" type="General" weightage="20" keywordseo="multiple-sources-of-income" source="keywords">multiple sources of income</keyword>, you need to be careful and mention all of them. Similarly, ensure that you have entered all investment details in the form correctly. Do not forget to mention your interest earned on savings and fixed deposits, dividend income (if any) or income from other sources, since that could lead to hefty penalties.

Five things to remember as you file your ITRs at the last minute

<ul><li>In some cases, the amount of tax deducted and the <keyword id="17506" type="General" weightage="20" keywordseo="tds" source="Orion">TDS</keyword> credit displayed in Form 26AS may not match.</li><li>If you find that TDS has not been deducted by your employer, or if there are other discrepancies, get it corrected.</li><li>If you face difficulty in resolving the issue, you can file an online complaint with the <keyword id="65338" type="General" weightage="20" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword>. </li></ul>If you are a salaried employee, the employer will deduct tax deducted at source (TDS) on your behalf, and provide the <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword> department with specific information on the tax deducted. Form 26AS is a consolidated tax statement that provides details of various tax-related transactions, including TDS. <cmsannotation type="cmsannotation" annotationid="subhead" text="Discrepancy in tax deducted and TDS credit">Discrepancy in tax deducted and TDS credit</cmsannotation> In some cases, the amount of tax deducted, and the TDS credit displayed in Form 26AS may not match the actual amount. “This discrepancy can occur due to various reasons, such as the deductor failing to provide TDS details to the Income-tax Department, or deducting taxes using an incorrect Permanent Account Number. “Taxpayers are advised to verify the tax credit displayed in Form 26AS, and reconcile any differences, if present,” says Aashish Sharma, co- founder, and litigation head, Lex N Tax, a tax consultancy firm. Sometimes, the TDS may not have been deducted by the employer. “Generally, the employers provide the tax computation to the employees for their approval. The employees may raise any concerns regarding non-deduction of TDS to their employers in case no such TDS is deducted,” says Suresh Surana, Founder, RSM India, an audit, tax and consulting services provider. <cmsannotation type="cmsannotation" annotationid="subhead" text="Steps to view form 26AS">Steps to view form 26AS</cmsannotation> To check if your employer has deducted TDS, follow these steps. First, register on the Income Tax Department's portal by visiting their website, and completing the registration process. Once registered, log in to the e-Filing portal using your credentials. Look for the "View Form 26AS (Tax Credit)" option, which can be found under the e-file section. Confirm the disclaimer, and proceed by selecting the relevant tick box. Next, choose the assessment year for which you want to view Form 26AS. Remember that the assessment year usually corresponds to the financial year. Finally, you'll have two viewing options: downloading the Form 26AS statement as a PDF, or viewing it directly on the portal in HTML format. <cmsannotation type="cmsannotation" annotationid="subhead" text="What to do in case of a discrepancy">What to do in case of a discrepancy</cmsannotation> “If you find that TDS has not been deducted by your employer, or if there are discrepancies in the TDS details, you should take the following steps,” says Sharma. <cmsannotation type="cmsannotation" annotationid="subhead" text="Contact your employer:">Contact your employer: </cmsannotation>Reach out to your employer, and discuss the issue. Provide them with the necessary details, and supporting documents to rectify the situation. They should rectify the TDS deductions in their records, and provide you with updated Form 16. <cmsannotation type="cmsannotation" annotationid="subhead" text="File an online complaint:">File an online complaint:</cmsannotation> If your employer does not take appropriate action, or if you face difficulty in resolving the issue, you can file an online complaint with the Income Tax Department through their e-Filing portal. Look for the "File Grievance" or "File Complaint" option, and provide the required information. <cmsannotation type="cmsannotation" annotationid="subhead" text="Follow up with the IT Department:">Follow up with the IT Department: </cmsannotation>After filing the complaint, regularly check the status of your complaint on the e-Filing portal. The Income Tax Department will investigate the matter and take necessary action to rectify the TDS discrepancy. If you are unsure about the appropriate steps to take, or require further assistance, it is advisable to consult a tax professional, or seek guidance from a chartered accountant, or tax expert who can provide personalized advice based on your specific situation.

ITR filing: Your guide to Form 26AS and why you should check for TDS discrepancies

<ul><li>You must disclose income from virtual digital assets (VDA)s such as <keyword id="2420795" type="General" weightage="20" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>, non fungible token (NFT)s and more in the ‘schedule VDA’ provided in the <keyword id="6374875" type="General" weightage="20" keywordseo="itr" source="Orion">ITR</keyword> form. </li><li>Schedule VDA requires information such as the acquisition date, transfer date, category of income for taxation, acquisition cost in the case of a gift, and consideration received. </li><li>The donation reference number (ARN), obtained from the form 10BE donation certificate must be included in the ITR to avail 80G deductions. </li></ul>With the <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword> filing deadline less than a month away, you need to ensure you are up-to-date on all the changes that are applicable this year. While modifications in tax and taxability of income from insurance policies (other than ULIPs) are among the most notable changes that have drawn a lot of attention, there are a couple of lesser known changes one should be aware of when filing one’s taxes. We take a look at these changes. The first is about disclosing income from virtual digital assets (VDAs) such as cryptocurrencies. “The taxpayer must disclose income from VDAs such as cryptocurrencies, NFTs, and so on in the "schedule VDA" provided in the ITR form,” says Aashish Sharma, co- founder and litigation head, Lex N Tax, a tax consultancy firm. Schedule VDA requires information such as the acquisition date, transfer date, category of income for taxation, acquisition cost in the case of a gift, and consideration received. “Those who get VDA income are not eligible to file ITR-1 or ITR-4. Such income can instead be declared in ITR 2 or ITR 3. Further, income from VDAs can be taxed either under the head of business income or capital gains,” says Sharma. Budget 2022 had introduced new NFT (non fungible token) and VDA regulations. The transfer of such assets will be subject to an income tax rate of 30% plus a surcharge and a levy beginning April 1, 2022, as per recent regulations. “TDS will be deducted at 1% of the sale price beginning July 1, 2022. This tax will be deducted by the developer, intermediary, broker or donor. The taxpayers cannot set off losses or carry forward the losses within crypto or from different heads,” says Suneel Dasari, founder and chief executive officer at EZTax, a tax portal. <cmsannotation type="cmsannotation" annotationid="Provide details of donation reference number to avail 80G deductions" comment="subhead" text="Provide details of donation reference number to avail 80G deductions">Provide details of donation reference number to avail 80G deductions</cmsannotation> To avail a deduction under <keyword id="1667689" type="General" weightage="20" keywordseo="section-80g" source="Orion">Section 80G</keyword> for donations made to charitable institutions, non governmental organisations or research universities, it is crucial to possess the donation receipt, and the donation certificate in Form 10BE. Taxpayers must provide the necessary information regarding their donations in the relevant 'Schedule 80G' within the ITR form in order to claim the deduction. “All approved u/s 80G charitable institutions, NGOs, and research universities must submit Form 10BD for all donations received during the fiscal year. They must also provide form 10BE to the recipients,” says Dasari. Form 10BE, containing a unique registration number, will be issued to benefactors after form 10BD has been filed by the institution. It is essential to enter donation details accurately in the appropriate table while filing the ITR. There is a new column under Table D for disclosing the donation reference number (ARN) for donations made to eligible entities where a 50% deduction is allowed, subject to the qualifying limit. The ARN, obtained from the form 10BE donation certificate issued by the institutions who received the donation, must be included in the ITR. This has been implemented to match donor and donee records and reduce the prevalence of fraudulent donations claims.

Two new tax rules you should be aware of when filing your taxes

<ul><li>The Income Tax department has launched an app allowing taxpayers to view important information on their smartphones easily.</li><li>The app allows users to view the TDS, income tax refund, and more information.</li><li>Here’s how to download and use your smartphone's new AIS for <keyword id="16953325" type="General" weightage="20" keywordseo="taxpayers-app" source="Orion">Taxpayers app</keyword>.</li></ul> The Income Tax (IT) department recently launched a new application for mobile users that allows taxpayers to access their important data from their smartphones easily. The IT app, dubbed as AIS for Taxpayers, allows users to find out important information such as the tax deducted at source (TDS), tax collected at source (TCS), dividend income, income tax refunds, and more. <cmsannotation type="cmsannotation" annotationid="How to download the AIS for Taxpayers app on your phone" comment="subhead" text="How to download the AIS for Taxpayers app on your phone">How to download the AIS for Taxpayers app on your phone</cmsannotation> The AIS for Taxpayers app is available for both Android and iOS smartphones. You can download the app for Android smartphones from<a href="https://play.google.com/store/apps/details?id=io.lntinfotech.AIStaxpayer&amp;hl=en_US"> here</a> and for iOS smartphones from<a href="https://apps.apple.com/in/app/ais-for-taxpayers/id1571076423"> here</a>. <cmsannotation type="cmsannotation" annotationid="How to register for the AIS for Taxpayers app" comment="subhead" text="How to register for the AIS for Taxpayers app">How to register for the AIS for Taxpayers app</cmsannotation> <ul><li>To begin, open the AIS for Taxpayers app on your smartphone and go through the introduction slides. </li><li>Then, enter your PAN and date of birth/formation or incorporation. </li><li>Now, click on the checkbox to agree to the terms and conditions and click “Proceed.” </li><li>Now, enter your primary mobile number and email ID, click “Proceed,” and then click “Confirm.” </li><li>Enter the OTPs you received on your number and email, and click “Verify.” </li><li>Now, you will be asked to set a 4-digit MPIN. </li><li>Once you have registered on the app and set the MPIN, you can easily login and view information. </li></ul><cmsannotation type="cmsannotation" annotationid="How to view TDS, dividend income and income tax refund using the AIS for Taxpayers app" comment="subhead" text="How to view TDS, dividend income and income tax refund using the AIS for Taxpayers app">How to view TDS, dividend income and income tax refund using the AIS for Taxpayers app</cmsannotation> <ul><li>Launch your smartphone's AIS for Taxpayers app and enter your 4-digit MPIN. </li><li>Now, click on “Annual Information Statement (AIS).” </li><li>Then, click on the information you want to view, including TDS, income tax refund, and more. </li></ul><cmsannotation type="cmsannotation" annotationid="Provide feedback on the information" comment="subhead" text="Provide feedback on the information">Provide feedback on the information</cmsannotation> <ul><li>If you are viewing any information and find a discrepancy, you can provide feedback to resolve it. </li><li>To do this, click “Submit feedback” at the bottom of the screen while viewing the information. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/how-to-file-a-consumer-complaint-against-a-company-using-whatsapp/articleshow/98806634.cms">How to file a consumer complaint using WhatsApp</a> <a href="https://www.businessinsider.in/personal-finance/news/how-to-compare-your-tax-liability-in-old-and-new-tax-regimes/articleshow/98116217.cms">How to compare your tax liability in old and new tax regimes</a> <a href="https://www.businessinsider.in/finance/news/how-to-use-credit-card-to-make-upi-payments/articleshow/98090488.cms">How to use credit card to make UPI payments</a>

How to check TDS, dividend income, and income tax refund using the AIS for Taxpayers app

<ul><li>You can now send and receive files from your Android smartphone to your computer using WiFi and Bluetooth.</li><li>Google’s <keyword id="9494493" type="General" weightage="20" keywordseo="nearby-share" source="Orion">Nearby Share</keyword> is now available for Windows devices.</li><li>Here’s how to send and receive files between your smartphone and your computer.</li></ul> If you are an Android user who often has to transfer files from your smartphone to your computer, there’s a new tool that will make your life easier. In 2020, Google introduced “Nearby Share,” a feature that makes sharing files faster and easier. This was limited to Android devices and has finally made its way to Windows. All you need to do is download an app on your computer and you are good to go. Unlike some other file sharing applications, this is easier to use as there’s no setup required, and you don’t have to go through a lengthy process. In addition to this, you don’t have to connect your devices to a cable to transfer files. Nearby Share uses Wi-Fi and Bluetooth to transfer files between devices. <keyword id="17016667" type="General" weightage="100" keywordseo="nearby-share-for-windows" source="Orion">Nearby Share for Windows</keyword>, currently in beta, allows users to send and receive files between their Android device and Windows computer. <cmsannotation type="cmsannotation" annotationid="How to download Nearby Share for Windows" comment="subhead" text="How to download Nearby Share for Windows">How to download Nearby Share for Windows</cmsannotation> The Nearby Share app is only compatible with devices running a 64-bit Windows 10 and above version. Additionally, you need Bluetooth and Wi-Fi on your computer to transfer files, so make sure you have both working on your device before downloading the app. You can download the Nearby Share for Windows app from Google’s website<a href="https://www.android.com/better-together/nearby-share-app/"> here</a>. <cmsannotation type="cmsannotation" annotationid="How to transfer files from your Android phone to a Windows computer" comment="subhead" text="How to transfer files from your Android phone to a Windows computer">How to transfer files from your Android phone to a Windows computer</cmsannotation> <div type="image" title="First" msid="99294704" hostid="261" sizebytes="16282" caption="&amp;lt;p&amp;gt;Nearby Share file sharing&amp;lt;/p&amp;gt;"></div> <ul><li>Once you have downloaded and installed the Nearby Share application on your computer, open the application. </li><li>On the left side, click on “Device is hidden” </li><li>Now, click on “Receive from everyone.” </li><li>Now, go to your phone, select the file, click “share”, and then select “Nearby share”. </li><li>Then, select your computer from the list. </li><li>You will receive a confirmation on your computer. Click on “Accept”. </li></ul><div type="image" title="4" msid="99294731" hostid="261" sizebytes="6592" caption="&amp;lt;p&amp;gt;Your file is saved&amp;lt;/p&amp;gt;"></div> Your file will be saved on your computer. <cmsannotation type="cmsannotation" annotationid="How to send a file from your Windows computer to your Android smartphone" comment="subhead" text="How to send a file from your Windows computer to your Android smartphone">How to send a file from your Windows computer to your Android smartphone</cmsannotation> <div type="image" title="5" msid="99294739" hostid="261" sizebytes="9006" caption="&amp;lt;p&amp;gt;Select a file&amp;lt;/p&amp;gt;"></div> <ul><li>Open the Nearby Share app on your computer. </li><li>Enable nearby share on your smartphone. </li><li>Now, either drop a file or click “Select files” and choose the file you want to share. </li><li>Select your smartphone and click on “Accept” on your device. </li></ul>Your file will be transferred to your smartphone. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/how-to-block-your-lost-or-stolen-phone-and-how-to-unblock-it/articleshow/99207569.cms">How to block your lost or stolen phone and how to unblock it</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-check-tds-dividend-income-and-income-tax-refund-using-the-ais-for-taxpayers-app/articleshow/99025288.cms">How to check TDS, dividend income and income tax refund using the AIS for Taxpayers app</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-file-a-consumer-complaint-against-a-company-using-whatsapp/articleshow/98806634.cms">How to file a consumer complaint using WhatsApp</a>

How to use Nearby Share to easily send and receive files between your Android smartphone and Windows computer

For the purpose of collecting taxes, the government takes into account the profession, business or income of a person. When the taxpayers file their <keyword id="104359" type="PERSON" weightage="20" keywordseo="income-tax-return">Income Tax Return</keyword>, they must check which form thy must use to file their ITR. Here we learn who can file ITR 1 which is also known as Sahaj form. What is ITR 1? ITR1 is also popularly known as Sahaj form. This is a simple and easy to fill form for one-page. Individuals who earn an income of less than Rs. 50 lakhs need to use this form to file ITR. The persons earning through the following sources can use ITR 1. <ul><li>Earnings through salary or pension</li><li>Earnings from their own property or house</li><li>Earnings from other kind of sources (this does not include winning from horse race or lottery)</li></ul>How to fill ITR 1 form Part A – General Information In the general information section, the taxpayer must fill in their personal details including name, sex, age, residential status, address, contact number, etc. Part B – Gross Total Income In this section, the details pertaining to the income made from salary or pension as found in Form 16 or the <keyword id="17506" type="ORGANIZATION" weightage="20" keywordseo="TDS">TDS</keyword> certificate issued by the employer need to be furnished. If the tax payer worked for more than one employer in the given year, the details with regard to the total salaries received from different employers need to be entered. If the person has any income through rents or loss due to payment of housing loan interest from a single house or property, such details need to be given in this section. If the individual sustained any losses, the form ITR 2 need to be used. Part C – Deductions and taxable total income In this section, the tax payer has to furnish all the relevant details of the investments that will be counted for tax savings or the expenses that are eligible to claim tax deductions. The total income after all these calculations must be mentioned in this section. Part D – Computation of Tax Payable In this section, the person paying tax needs to club the items including Advance tax, Self-assessment Tax, TDS, TCS under ‘Total Tax Paid’. The details with regard to all kinds of exempt income, like dividend income, agricultural income, and others must be mentioned here. Part E – Other Information This section is meant to provide the details with regard to the savings and current accounts held by the person during the previous year (excluding the dormant accounts that are not operational for over 3 years). The individual must also furnish the details regarding the cash deposited in the accounts other than the current and <keyword id="114757" type="PERSON" weightage="20" keywordseo="Savings-Account">savings account</keyword> like loan accounts and others. If the cash deposited over the year is more than Rs. 2 lakhs, the aggregate amount of cash deposited must be furnished here. Schedule IT – Details of Advance tax and Self-assessment Tax payments If the tax payer has made any advance payment of tax or some self-assessment taxes, such details must be entered with the BSR code of the bank through which the payment was processed, the payment date, challan’s serial number, and the total amount paid through the challan. Schedule TDS – Details of TDS/TCS In this section, the details from Form 16 issued by the employer with regard to <keyword id="2414551" type="PERSON" weightage="20" keywordseo="Salary-income">salary income</keyword> must be given. Also, the details about the TDS or TCS as per Form 27D issued by the tax collector must be furnished. <keyword id="6401487" type="UNKNOWN" weightage="20" keywordseo="verification">Verification</keyword> In this section, the tax payer must enter the date and signature. The form will not be accepted if there is no valid signature.

You Searched For "TDS filing" and got 6 results

Five things to remember as you file your ITRs at the last minute

Divyanshi Sharma

ITR filing: Your guide to Form 26AS and why you should check for TDS discrepancies

Anagh Pal

Two new tax rules you should be aware of when filing your taxes

Anagh Pal

How to check TDS, dividend income, and income tax refund using the AIS for Taxpayers app

Sourabh Jain

How to use Nearby Share to easily send and receive files between your Android smartphone and Windows computer

Sourabh Jain

ITR 1 Filing: Who can file ITR 1

BI India Bureau

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