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Yes, even if your employer deducts and deposits your TDS on regular and timely basis, you are still required to file your tax return if your income exceeds Rs. 2,50,000. This helps in determining any dues or eligibility for refunds.

• Login to the Department e-filing website
• Select e-filed Returns/Forms from My Account dropdown.
• Click on "Click here to view your returns pending for e-verification”.
• Select the AY you want to e-verify your return for and then you can choose from the given three options available there to e-verify your return.

Your employer gives you Form-16 as a certificate of total TDS deducted from salary. Details of TDS deducted and the details of salary, allowances & deductions are mentioned in Form-16. However, the details of deductions mentioned are subject to the proof of deductions submitted by you to your employer. Hence real computation may change from the computation mentioned in Form-16.

It is given at the end of year and helps you file your income tax return. Remember Form-16 is not an alternative for Income Tax Return. Filing Income tax return is mandatory even if correct TDS has been deducted as per Form—16.

Advance tax is to be calculated based on expected tax liability of the year. Advance tax is to be paid in instalments as given below:

For Individuals and Corporate Taxpayers

For taxpayers opting for presumptive scheme u/s 44AD & 44ADA

You check your Aadhaar-PAN Linking status from the following link: https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar

All the books of account and related documents should be kept at the principal place of business, i.e., where the business or profession is generally carried on. These documents should be preserved for a minimum of six years from the end of relevant Assessment year, i.e., for a total of 7 financial year from the end of relevant year. However, when the assessment has been reopened, all books of account and other documents which were kept and maintained at the time of reopening of assessment should continue to be so kept and maintained till the assessment so reopened has been completed.

If the following conditions are satisfied then any sum of money received (i.e., monetary gift may be received in cash, cheque, draft, etc.) by an individual/ HUF will be charged to tax (*):

1. Sum of money received without consideration.
2. The aggregate value of such sum of money received during the year exceeds Rs. 50,000.

The new proposed tax rates are:

Up to Rs 3 lakh: NIL

Rs 3 lakh- Rs 6 lakh: 5%

Rs 6 lakh-Rs 9 lakh: 10%

Rs 9 lakh-Rs 12 lakh: 15%

Rs 12 lakh- Rs 15 lakh: 20%

Over Rs 15 lakh: 30%

Taxpayers have the option to choose the regime of their choice as both, the old tax regime, and the new income tax regime, co-exist. Following are the slab rates as per old regime.

Up to Rs 2,50,000 - Nil

Rs 2,50,001 – Rs 5,00,000 - 5%

Rs 5,00,001- Rs 10,00,000 - 20%

Above ₹10,00,000 - 30%

The Employee contributes 12% of his /her Basic Salary & the same amount is contributed by the Employer.

Employers’ contribution of 12% of basic salary is totally deposited in provident fund account Whereas out of Employees contribution of 12%, 3.67% is contributed to Provident fund and 8.33% is deposited in Pension scheme.

Every entity whose taxable supply of Goods or Services or both exceeds the threshold limit must be registered for GSTIN.

1. PAN Card
2. Aadhaar card wherever possible.
3. Digital Signature in case of companies and LLP.
4. Valid mobile number and Email ID.
5. Photograph of Proprietor, partners, authorized signatories.
6. Registration Certificate obtained under earlier Tax laws.
7. Proof of appointment of authorized signatory and their personal details.
8. Proof of principal place of business.
9. Opening page of Bank statement held in name of Business or Proprietor.