Any one who has income should file Income Tax Return and while filing Income Tax Return there are various types of income. Here are some of the incomes that you should mention while filing your ITR.
Many a times while filing Income Tax Return miss out to disclose various types of incomes. Interest Income from Saving Bank Account and interest from fixed deposit is one such income that most of the time taxpayers forget. Mostly, salaried individuals disclose just their salary Income or provide a copy of their Form 16, but there are times when they forget to include interest income on saving account while filing ITR, which is eligible for tax deduction under Section 80TTA up to Rs 10,000 and even if the amount of interest on saving bank account is less than Rs 10,000 you are still required to first include it in your income and then claim deduction under section 80TTA.
There are chances that your minor child is earning an income. Income earned by your minor child is supposed to be clubbed with your income. Parents generally invest money belonging to their minor child received as gift on several occasions. The income or interest earned by the minor on these investments is required to be included in the income of the parent, while filing ITR.
So, what are you waiting for include all the necessary details while Filing your ITR and file it right now, as the last date to file ITR is 31st July 2018 for the Financial Year 2017-18. Apply coupon code ITR50 and get an instant discount of Rs.50. You can also tell your friends about All India ITR and earn quite a lot by using our Refer and Earn scheme.