Income Tax Return Form Ay 14-14 Excel Format 14 Great Income Tax Return Form Ay 14-14 Excel Format Ideas That You Can Share With Your Friends

Accept you filed your assets tax acknowledgment for FY 2018-19 (AY 2019-20)? FY is the year in which you acquire the income, while AY is the year in which you appraise your assets and book your return. As of now, the borderline for filing ITR for FY 2018-19 is July 31. Avoid the last-minute blitz which can advance to mistakes. About 1.10 crore new filers were added during 2018-19 banking year while the assets tax administration is attractive at a college ambition for this year: 1.3 crore new filers. Not alone you can book your assets tax acknowledgment online but additionally accumulate a clue of your refunds and processing of allotment online.



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Here is a step-by-step adviser on ITR filing for FY 2018-19:

1) The aboriginal footfall is to adapt abstracts so that you ample the adapted details. Apart from basal capacity like PAN, Aadhaar, coffer annual and bacon income, accumulate added abstracts assuming basic gains/losses, rental income, disconnected assets if you accept added assets sources as well.



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“Before you file, accumulate all your abstracts handy. Maintain tax proofs properly. Accumulate them safe afterwards you accept abounding out the anatomy online – they will be bare if an appraisal administrator asks for proofs,” says Archit Gupta, architect and CEO of ClearTax.



2) If you are a first-time filer, you charge to actualize an annual on the ITR e-filing website (Incometaxindiaefiling.gov.in). Once you accept all the abstracts handy, the abutting footfall is to login to your e-filing annual on the assets tax department’s website.

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3) Once you login to your ITR e-filing account, bang on the “Filing of assets tax return” on the dashboard. Then, accept the appraisal year (AY) for which you appetite to book the ITR. The accepted AY is 2019-20 area you book allotment for banking year (FY) 2018-19.

4) The abutting footfall is allotment the adapted ITR form. From this year, you will accept added capacity pre-filled in your ITR forms. Tax experts say that you should verify them afore appointment it. “Prefilled XML is accessible for ITR 1, 2, 3 and 4 for AY 2019-20,” the Assets Tax administration said in a note.

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5) Besides selecting the adapted ITR form, ensure you ample in the actual details. If you book the acknowledgment in the amiss ITR form, it may be advised invalid. ITR-1 is meant for assessees whose primary antecedent of assets is salary. It can be acclimated by individuals accepting assets from salaries, one abode property, added sources (interest etc.) and absolute assets from all sources does not beat ₹50 lakh. ITR-2 can be acclimated by individuals and HUFs not accepting assets from profits and assets of business or profession. ITR-3 is for individuals and HUFs accepting assets from profits and assets of business or profession.

“Verify your Anatomy 26AS. Remember to accommodate all the incomes that accord to a TDS in your Anatomy 26AS. Make abiding you affirmation all the deductions you are acceptable for,” Archit Gupta of ClearTax adds.

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Form 26AS is basically a circumscribed tax acclaim account that has all capacity of assorted taxes deducted on your assets at source. You can admission Anatomy 26AS from the tax department’s website.

6) Afterwards filing your tax return, you charge to verify it. Your allotment are candy alone afterwards it is verified. There is a window of 120 canicule from the date of uploading the return. You can e-verify your acknowledgment application an Aadhaar OTP or net-banking. Else, you can download the ITR accepting ( ITR V) and accelerate a active archetype of ITR-V to the tax department’s Central Processing Center, Bengaluru.

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Last Updated: December 7th, 2019 by darurat
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