Sunday, 14 July 2019

All about Incometax

See/perform the following steps to complete the Income Tax payment process:

  1. From April, 2018 to March 2019 (this is for your example!), is called Assessment Year 2019-2020. 
  2. You have to see the 26AS form to check that college submitted the income tax regularly. And you salary is also written on the 26AS form.
  3. In the month June-July 2019, you should get form 16 from college.
  4. Fill up ITR-1 in July. See the amount of tax you need to pay. DO NOT SUBMIT INCOME TAX RETURN AT THAT TIME.
  5. Fill up form 280 under section self assessment tax (300) point, and pay the tax online from net banking.
  6. Note down challan from SBI when you pay tax online from ne banking. Also note BSR code and challan no from tax payer counterfoil.
  7. Then again fill up ITR-1 and put the BSR code etc in the form and finally submit.
  8. Note tax payable should be Rs 0.00 and tax paid should be the amount of tax shown in the ITR form and form 16.

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