#ITR #SalariedPerson Information and Documents required to file ITR for Salaried Person

This video will guide to you What information and documents required to Salaried Person for filing their Income Tax Return.

As you aware that, new financial year has begun and investments for last years are done for planning your income tax saving. It’s high time to collect all the information regarding our income, expenses and investments made during previous financial year 2018-19 and be ready for filing Income tax return properly for the previous year 2018-19 (FY-2018-19) Assessment year 2019-20. We should file return on time to avoid penalty.

Penalty as per Section 234F for salaried person–

1- Total Income is upto Rs. 5,00,000/-

(a) Return filed after 31st July, 2019 (subject to date extension) till the date of 31st December, 2019- Penalty Rs. 1,000/-

(b) Return filed after 31st December, 2019 till the date of 31st March, 2020- Penalty will be Rs. 5,000/-

2- Total Income is more than Rs. 5,00,000/-

(a) Return filed after 31st July, 2019 (subject to date extension) till the date of 31st December, 2019- Penalty Rs. 5,000/-

(b) Return filed after 31st December, 2019 till the date of 31st March, 2020- Penalty will be Rs. 10,000/-

Following Information or Documents required for filing Your Income Tax return-

1- Form-16 of current employer and previous employer (If job changed during the year),
2- All Bank Statement for the FY-2018-19 ( From 01.04.2018 to 31.03.2019)- If amount received other than salary,
3- Interest on saving bank deposit during the FY- 2018-19,
4- Interest on Fixed Deposit and form 16-A from Bank for the FY -2018-19,
5- Investment proofs- (If not submitted to your company)-


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