This document is very important because without it your tax liability or tax refund calculation will not be correct. By providing correct information about interest, you can avoid tax related mistakes and get the correct refund.

How to get interest certificate?

• The good thing is that now it has become very easy to get this interest certificate. You just have to visit the post office’s internet banking website (ebanking.indiapost.gov.in).
• You can easily download the Interest Certificate by logging in there with your user ID and password.
• If you have not started internet banking yet, don’t worry.
• You should go to your nearest post office branch where CBS (Core Banking System) facility is available.
• You can start internet banking by filling an application form there.
• After this, you can download the certificate from your smartphone or computer sitting at home.
• After logging in, you will Post Office Savings Account You can easily get interest certificate related to Term Deposit (FD), Recurring Deposit (RD) or any other scheme.
• This certificate can be downloaded for the previous and current financial year.
• You can save it in PDF format and then upload it online while filing ITR or print it and submit it if required.

The benefit of this certificate

This certificate correctly reflects your interest income, which is required to be shown under ‘Income from other sources’ in the tax return.

To get the first interest certificate Post Office Earlier you had to make rounds of the post office, but now this work is done in just a few minutes. The facility of internet banking has made it so easy that you do not need to stand in long lines or go to the post office again and again. Just check your account information, login and download the certificate.

This facility is especially beneficial for those who invest in post office schemes, such as Senior Citizen Savings Scheme, National Savings Certificate or Kisan Vikas Patra.

So, if you are preparing to file ITR, first open the post office website on your smartphone and download the interest certificate. This small step can save you from the hassle of tax filing and will help you keep your refund right.

The post ITR Filing Tip: Interest Certificate Required for All Post Office Deposits first appeared on Rightsofemployees.com.

To save time and avoid hassles, taxpayers should keep all the necessary documents in one place before filing ITR. This will make the process of filing returns very easy and there will be no hassle while filing ITR.

One thing that the taxpayer should take special care of is that he should fill all the information correctly in the ITR. If any mistake is made, the ITR is rejected by the Income Tax Department. Let us tell you which documents you should keep ready while filing income tax return.

Form 16

Form 16 is very important while filing returns. Although Form 16 is issued by the company. But, if the taxpayer has changed jobs in the financial year, then he should get Form 16 from the old company before filing the return. Form 16 contains all the information about the taxpayer’s income along with the details of Tax Deduction at Source (TDS).

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Before filing the return, the taxpayer must check whether all the information in Form-16 is correct or not.

Interest Certificate

We get interest on the amount deposited in the bank. If we have invested in FD or any other scheme, then we have to give information about the returns received on that to the Income Tax Department.

The best way to get all the details like interest and returns is through Interest Certificate. The Interest Certificate contains the details of the bank’s interest along with other interest rates.

If interest of up to Rs 10,000 is received annually on the saving account, then there is no tax on it.

Income Source

Many taxpayers earn income from many other sources along with their jobs. For income, they invest in many places like Mutual Funds or share market etc. Information about these investments also has to be given to the Income Tax Department.

While filing ITR, the taxpayer has to tell where he has invested and how much profit he has earned from there. If the taxpayer has received capital gain through investment, then its details also have to be given in ITR.

The post Income Tax Return 2024: Keep these documents ready before filing ITR, otherwise you will get IT Notice first appeared on Rightsofemployees.com.