Having filed your income-tax return, don’t just forget all about it. There are things to do before you put your income-tax return to slumber, lest you wake up later to find things not in order.
DNA presents a checklist for you to make sure things run smoothly for you in the later part:
Preserve the papers
Keep safe all the papers that you referred to
while filing the return. This includes not just your Form 16, but also your bank account statements or passbook, your dividend certificates or the annual demat account statements, fixed deposit interest certificate or tax deduction at source (TDS) certificates from banks.
Also, if you have asked for taxes to be forgone or exempted as you have invested in the notified investment instruments such as public provident fund, insurance, tax-saving fixed deposits, mutual funds, etc, under Section 80 C, then the proofs of investment should be maintained in your records. If you have claimed donation to charity, then the receipt of donation needs to be preserved.
You need these documents in case the income-tax department calls you for scrutiny of your tax return. A scrutiny can be called anytime within the end of six months from the end of financial year in which the return was filed.
Note down passwords
Many people who filed their returns electronically this year had difficulty in locating the password needed to log in — either they had forgotten the password having last used it a year ago, or the person who filed the return on their behalf didn’t share it with them.
By now, you’ll know the password. Note it down, so that you don’t face any problem next July.
If someone else has filed your return for you online, you can click the ‘forgot password’ button and change the password by setting your secret question and last-year’s e-filling acknowledgement number. This number can be found in last year’s acknowledgement receipt that you would have got after filing return. The e-filing number is essential for future reference.
Rename the files
The ITR-5 is saved in a coded file name in your computer. If you have more than one return filed on the same computer, then rename the files so that you can locate whose returns they are.
This is essential as you cannot open the file without a password to know whose return it is. The password to open the file is the person’s permanent account number (PAN) plus birth date in DDMMYYYY format.
Comments