- By Aditya Pratap Singh
- Thu, 20 Jun 2024 11:41 AM (IST)
- Source:JND
Income Tax Return Filling 2024: The last-minute rush to file income tax returns increases the chances of making mistakes, this usually happens when the taxpayer attempts to file the return near the deadline. According to experts, one should not wait until the last minute to file an income tax return as the deadline is announced already. It is beneficial for taxpayers to file their returns before the deadline. For filling out ITR number of papers are required. Below, we have discussed these forms and how you can download them.
Form 16
Form 16 is the most important document for salaried taxpayers to file income tax returns. Companies issue Form 16 for their employees once the financial year is over. This form contains information on the employee's gross income, taxable income, and TDS deducted from their salary during the financial year. It can be downloaded from the Employee Self-Service (ESS) website. However, an employee can get it from his company's finance department itself.
Also read: Sensex, Nifty Rise In Early Trade; Kotak Mahindra Bank, Tata Motors Top Gainers
What is the importance of AIS?
The second most important document for filing returns is the Annual Information Statement (AIS because it shows records of the taxpayer's financial transactions during the financial year. The transactions include TDS, TCS, interest income, dividend income, and transactions related to shares and mutual funds. You can match the TDS indicated in it with the TDS of Form 16 and if there is any discrepancy in the information, you can rectify it to eliminate the possibility of ITR being rejected.
How to download AIS
To download AIS, you must log in to the Income Tax Department website. If you are already registered, you can log in using your user ID and password. Remember, your PAN is your ID. If you are not yet registered, you can register using your PAN. Post login, the 'Annual Information Statement' menu will appear on the dashboard. Select it. Click on the 'e-file' menu. Then go to Income Tax Return and select 'View AIS'.
Next, you will have a separate AIS portal. click on the 'Proceed' button to go further. Now, you will get the option of AIS for many financial years on the home page of AIS. Download AIS by selecting the appropriate financial year.
