UTILISE YOUR SUNDAYS
Yes, the season for filing income tax returns is coming closure. Don’t wait for Form-16 and utilise your Sundays in accumulating the documents required for filing return of income. We have time of only 4 months for filing return of income i.e. April to July and Form-16 is issued till 15th June. So if we wait for Form-16 then we have only 45 days to complete filing process. The professional who takes charge of filing returns is burdened with work and there are chances that mistake may happen which may lead to issuance of notice. It will ultimately hamper peace of client.
HIRING PROFESSIONAL IS BETTER OPTION
It is therefore good practice to accumulate all the documents, prepare rough computations and balance sheets with the help of Professional so that as soon as when Form-16 is issued workings relating to Form-16 is done and return is filed in efficient way. It is also good practice to always hire a professional while filing returns to have expert opinion. Saving minimal professional charges is always inappropriate practice. Professional always makes your life better and awards you peace.
Let us assemble all the documents so that we are not at rush to file Returns.
1. Bank Statements
2. Interest Certificate from bank
3. Housing loan Certificate
4. Demat Account Details
5. PPF Passbook
6. LIC Premium Receipts
9. Mediclaim Receipts
10. Details of Investment in Fixed deposits and Mutual Funds
Don’t wait for Form-16 and keep above documents ready and deliver it to Professional so that preliminary work can be initiated.
LAST DATE FOR ISSUANCE OF FORM-16
The employer is required to issue form-16 to employee by 15th June. So don’t wait for Form-16 and start doing initial work.
Small things make big differences in Life. Utilise your sunday and gift yourself peace.