7 Points to remember while filing you Income Tax Return ITR

#1 Form 26AS and AIS

Check your 26AS and AIS statement on I-Tax Portal. Make sure all income, TDS and TCS payments correctly are mentioned

#2 Include Income from Other sources

Report all your interest, dividend and capital gains Non Reporting will attract interest and Penalty

#3 Take all eligible exemptions

Saving bank interest is exempt upto Rs 10k and FD interest is exempt for senior citizen upto Rs 50k

#4 Report your Foreign Income

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All Foreign Income has to be reported in your tax return. Including assets and small amount lying in banks.

#5 Report all Losses

Report all losses. Losses are your assets for next year's return. C/f losses can be adjusted for 8 years

#6 Ensure claiming all Mediclaim expenses

Preventive health check-up is allowed as deduction upto Rs 5k Mediclain expenses are also deductible

Clubbing of Income

Income from money gifted to spouse/ children is clubbed in parent's income Non Clubbing will trigger penalty and interest

Thank You

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