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Income Tax : Filing tax? Take your documents along
Posted on : 04 July 2008 by Admin [ Scorecard : 1137]
Sub Heading : IT officers may ask for the same while filing
Author : Khyati Dharamsi/DNA
Content : Come July 31 and it is time to file the income tax return (ITR).
By this time, you may have received Form No 16 and be ready with your tax calculations in order to file the annual income tax return.
Even though the ITR forms have instructions, which clearly state that there is no need to submit any supporting document, it is in the interest of the assessee to carry the documents along.
DNA Money had earlier reported that income tax offices in Mumbai have not been accepting ITR forms unless these are accompanied by the relevant documents.
This is contrary to the existing regulations.
Instructions from the finance ministry state, "No document (including TDS certificate) should be attached to the form. Officials receiving the return have been instructed to detach all the documents enclosed with this form and return the same to the assessees."
This has been applicable in the assessment year 2007-08 and will now be applicable in the current assessment year of 2008-09 as well.
But, the tax officers are finding it difficult to process the information without the documents, especially tax deduction at source certificates.
It has been learnt that the IT department has been in touch with those who had filed returns last year without the supporting documents.
While going to file the ITR at the designated income tax office, make sure you have the TDS certificates, house rent receipts and investment proof for both the current financial year and previous ones ready at hand.
Those who have plans to discard old documents must make sure the old pile doesn't contain the TDS certificate on 2007 fixed deposits. Also, if you are planning not to collect the TDS certificate, education expense receipt, house rent receipts or agreement just because you no longer have to submit them, think again.
May be the tax officer in your city will accept the ITR forms without documents, but only to knock your door the next day. In effect, the IT department has shelved its burden of document storage on the tax assesse.

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Source : Under license from 3D Syndication -
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