While filing IT returns, U may face these 4 Challenges

FILING YOUR INCOME TAX RETURNS? HERE ARE 4 CHALLENGES THAT YOU MAY FACE As the last date for filing income tax return approaches, most tax payers would be busy collating various information required to file their returns. The process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax. Detailed below are some of the biggest challenges that one may face while filing his or her income tax return. Challenge 1: Computation of taxable income Before filing your income tax return, it is vital for you to identify and compute your taxable income. Apart from a review and analysis of your bank account statements, identifying your sources of income and segregating them into 5 sections -- income from salary (including basic salary, commissions and bonuses, and allowances), income from house or property, income from businesses or profession, income from capital gains, and income from other sources -- is also important. To ensure that you do not miss out on any income received, download form 26AS from the tax department's website. The form will reflect all income received by you and tax so deducted. Also, reporting your exempt income while filing your return would help reduce the possibility of a demand notice from the tax department. Read more at http://starhealthdevarajan.com/news/548 Call 98401 77017 Devarajan for Your Existing/New Insurance Services, needs, Suggestion, Portability Services, Claims Related Services, etc www.starhealthdevarajan.com #medidlaim #மருத்துவக்காப்பீடு #starhealth