Tax Time!!
It is that time of the year when you look for TDS certificates, insurance receipts, medical bills or even capital gain statements to begin filing your income tax returns. As always, this year too brings some changes to the data collected by the ITR forms but the general structure and format of the forms remain the same. Which form to use? By now the newspapers and online portals would have elaborated on who should use which form to file their returns. A gist of it is given below: ITR-1: To file income from salary/pension, rent from one house property and interest ITR-2: To file rental income from more than one property, capital gains and interest ITR-2A: To file rental income from more than one property, capital gains from shares/MFs and interest income ITR-4S: To file income from business or profession Doubts on what to file! Most people know what incomes to file. However doubts arise as to whether one should report income(s) to which TDS has not been applied - such as in