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212 Points
Joined March 2009
hi revathi.....for preparing income tax return u need following documents from ur client:
if Client is a salaried Employee:
If client is a salaried employee you have to ask for Form 16 A which is issued by the Employer of the Client. It includes complete detail of income under the head salary and Tax deducted at Source by the employer.
if The client has income under head like income from FDR drawn upon banks then you need to ask for form no. 16 form the Bank in which FDR has been made.
IF client is carrying on any Business and Profession
Then u have to ask for balance sheet, Profit and Loss accounts and schedules to balance sheet...if it is not already prepared then you have to ask for bank statements, expenses incurred for the business and bills of sales and purchases. and ascertain the profit and calculate tax on that.
If the client has income under the head Capital Gains then the follwing information will be required.
Date of Purchase of Property or Securities
Addition made to the Property.
Expenses incurred for the purchase of Porperty Like Agents Commission
Date of Sale.
Amount of Purchase & sales etc.
I hope this information will be helpful for you.
Good Luck