Help needed to file tax return

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ashish

student pcc

34 Points Posted on 03 August 2011

hello friends.

i m a cpt student and new in caclubindia

i have a small query.you may find my question too long but i m sorry if i m unable to explain it.

i have been a science student n dont know much about tax rules n regulations.

recently approached a bank for a small loan and they asked me about form 16. now i believe form 16 doesnt exist anymore then why they ask for it?

and if i need to submit my it return then how do i do it?

and total income is below 1.5 lakhs.so wat do i need to do and how do i do it online?

i have visited incometaxindiaefiling.gov.in and downloaded sahaj 1 form but i got extremely confused.

i have only one source of income, income from salary.

there is nothing apart from salary and nothing for deduction or anthing else.

plz tell me wat n how to do it now.

thanks a million in advance for help.

Replies (2)

Shreya Aggarwal

Student

97 Points Posted on 03 August 2011

Form 16 is issued by the employer to its employee. It shows the salary details that an employee has earned during a specific financial year. You have salary income, thats why bank is asking for Form 16 from you. If you haven't received it from your employer, then you can file income tax return. Sahaj form will be applicable to you. Before efiling the ITR, you have to get yourself registered on the website incometaxindiaefiling.gov.in. Form Sahaj is simple as compared to other forms. I think the bank may ask for your last three years returns for giving loan to you.