Income Tax Return

A tax return is a form or forms filed with a tax authority that reports income, expenses, and other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the overpayment of taxes.

Filing process and documents required for filing:

• Form 16: Certificate issued by employer with information needed to prepare and file your ITR.
• Form 26AS: Summary of taxes deducted on your behalf provided by the Income Tax Department.
• Tax-saving investments: PF contribution, school tuition fees, life insurance premium, home loan principal repayment, ELSS/Mutual funds (max ₹1.5 lakh under Section 80C).
• Other investments: Interest on housing loan, education loan interest, bank interest, medical insurance.