Know Your Forms While Filing e-Returns


Bangalore: It can be confusing knowing which form you need to utilize when filing your return. Read on to see which form is valid for whom as well as a few tips on filing your returns.

Let’s start with the basic Form 16. If you are a salaried individual, it will be handed over by your employer and will cover virtually all ground. It must contains all the information regarding your total income, taxable income, tax-saving investments made and amount of tax deducted. In other words, Form 16 is the proof for your income and tax paid to the government before you file your returns. Proofs of supporting deductions like investments in equity linked savings schemes (ELSS) and public provident fund (PPF), premium paid towards life insurance etc would have been submitted by you to your payroll department. Do remember that charitable donations will not be included in Form 16.