Well the time has come again my friends for us to fill our tax returns and our contribution registered in the government database, yes it is indeed our contribution to the welfare of the country in form of tax so that the government can built new infrastructure like roads, bridges etc. and also enrol various schemes and proposals to make our country a better place in terms of its living conditions.Other benefits of filing income tax return is that you can get bank loan or international visa processed in shorter span of time.
The filling of ITR is very easy, all you need to have is your form-16 and ITR excel sheet which can be downloaded from income tax filling web site, so depending on the source of your income one can download ITR excel sheet from the web site and fill the excel sheet but make sure details entered in it are correct and relevant. The excel sheet has various features like validate data to check that all mandatory fields are filled also there is comment section in multiple fields which highlights what format to use in filling the data like date of birth have a specific format that it has to be filled in date month and year format also some fields have restriction that it does not accept incorrect data for example name cannot have numeric digits hence only alphabets are accepted.
Well after filling all the fields one needs to press compute tax button which will show whether a person has paid right amount of tax or not, in case tax paid is more than required than the excess amount will be refunded in the person’s bank account within few months and that too with interest so just click on generate xml file that will save a xml file on your system and same needs to be uploaded onincome tax filling web site after logging in with your PAN credentials.
Yes, that’s it fill your tax returns on time and make your contribution counted.