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Frequently Asked Questions?
I have not claimed HRA at the time of Investment proof submission?
When can Leave Travel Allowance (LTA) be claimed?
What are the pre-requisites of claiming LTA?
What costs can be claimed as LTA?
If I have not utilized LTA even once in the block of 4 years, Can I do it now?
What is Form 26AS?
Why do I need to check my form 26-AS while filing returns?
I may be getting interest from 2-3 bank accounts how to consolidate and report?
I may be getting interest from 2-3 bank accounts how to consolidate and report?
I changed jobs during the year. Do I need to some extra precautions while filing returns?
If you own a house property, what kind of deductions are available?
If the owned house is let out for rental purposes?
If the house property is jointly owned, how does the deduction on interest work?
I do not have a Form 16? How do I proceed to file the returns?
What are the Tax implications of Pension Income?
How are Employee Stock Option plans charged to tax?
Who is an NRI as per the Income Tax Act?
How to claim tax refunds of excessive TDS deducted on account balances and securities transactions?
What is advance tax and who has to pay it?
What are the due dates of payment of advance tax?
What are the consequences of non-payment of advance tax?
Which Address to enter in return filing?
Can I enter an address outside of India?
How does tax refund through ECS work?
What is Tax deducted at source?
What is a Digital Signature Certificate (DSC)?
What is form 16A?
What is Form 16?
Things to remember while filing income tax return
1)Has House Rent Allowance (HRA) been claimed? A large chunk of your pay structure is HRA, please ensure you have claimed it by submitting the requisite rent receipts in time. If you have not claimed/partially claimed please do it at the filing time
2)If you have changed jobs during the previous year, you probably have a tax liability at the end of the year. Have you paid it off? It is costing you 1% per month in simple interest (CLICK HERE TO UNDERSTAND WHY THIS HAPPENS)
3)Does your Salary structure include Leave Travel Allowance (LTA), if yes how can you claim your travels? Its easy! (HYPERLINK TO RELEVANT FAQ)
4)Do you get Medical reimbursement/Fuel & maintenance/any other allowance as a part of your salary structure, your proof submission deadline is in January. Do you let the February and March allowance lapse, while you are actually incurring those expenses? Claim while filing
5)Are you paying off an education loan? You can claim deduction under 80E for the interest paid on loan for higher education for self and relatives
6)If you are getting interest from savings bank accounts, you must show it in your return. There is an exemption of upto Rs 10,000 on the interest earned (80TTA)
7)It is important to check the TDS entries with your Form 26AS. Has your employer deposited all the tax they have been deducting to the Income Tax Department? (CLICK HERE TO KNOW WHAT IT IS AND HOW IT IS DOWNLOADED)
8)Have you claimed the Medical insurance you pay under 80D, there is a deduction of upto Rs 40,000 on you and dependents. Did you get a preventive health check up during the year? You can claim that too uptil Rs 5,000
9)Did you get charitable at any time during the year? An office kiosk or an online payment to a registered NGO? You can claim 100% to 50% of those payments. You will need an 80G tax certificate from the donee organization. Email them, they can give it to you!
10)E-filing is annexure-less, so the government does not accept any bills/receipts/proofs/certificates with it. However, you are expected to maintain a complete dossier of your tax return claims

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