𝗛𝗼𝘄 𝘁𝗼 𝗙𝗶𝗹𝗲 𝗜𝗻𝗱𝗶𝗮𝗻 𝗜𝗧𝗥 𝗮𝗻𝗱 𝗣𝗿𝗲𝗰𝗮𝘂𝘁𝗶𝗼𝗻𝘀 𝗡𝗲𝗲𝗱𝗲𝗱

Navigating through the intricacies of the Indian Income Tax Return (ITR) can be a daunting task for many. Understanding the nuances, matching financial documents, and ensuring accurate reporting are crucial to a seamless process. In this article, we will delve into the significant aspects of filing the ITR, how to align Form 26AS with the Annual Information Statement (AIS) and the Tax Information Statement (TIS), and the steps to take when discrepancies arise between actual income and reported figures in AIS and TIS.

𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗜𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝘁 𝗔𝘀𝗽𝗲𝗰𝘁𝘀
𝗙𝗶𝗹𝗶𝗻𝗴 𝘁𝗵𝗲 𝗜𝗧𝗥 𝗶𝗻 𝗜𝗻𝗱𝗶𝗮 𝗶𝘀 𝗻𝗼𝘁 𝗷𝘂𝘀𝘁 𝗮𝗯𝗼𝘂𝘁 𝘀𝘂𝗯𝗺𝗶𝘁𝘁𝗶𝗻𝗴 𝘆𝗼𝘂𝗿 𝗶𝗻𝗰𝗼𝗺𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀; 𝗶𝘁'𝘀 𝗮𝗯𝗼𝘂𝘁 𝗲𝗻𝘀𝘂𝗿𝗶𝗻𝗴 𝘁𝗵𝗮𝘁 𝗮𝗹𝗹 𝘁𝗵𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝗮𝗰𝗰𝘂𝗿𝗮𝘁𝗲, 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲, 𝗮𝗻𝗱 𝗶𝗻 𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗗𝗲𝗽𝗮𝗿𝘁𝗺𝗲𝗻𝘁'𝘀 𝗴𝘂𝗶𝗱𝗲𝗹𝗶𝗻𝗲𝘀.

Key aspects to focus on include:

𝗞𝗻𝗼𝘄𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗜𝗧𝗥 𝗙𝗼𝗿𝗺: Different types of income necessitate different ITR forms. For instance, ITR-1 (Sahaj) is for salaried individuals with income up to INR 50 lakh, whereas ITR-2 is for individuals with income from more than one house property or foreign income/assets.

𝗚𝗮𝘁𝗵𝗲𝗿𝗶𝗻𝗴 𝗥𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝘀