Income Tax Return Verification i.e. ITR-V form is a PDF document generated immediately after e-filing and serves as an acknowledgement for successful Income Tax Return. ITR-V essentially contains the following information.
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Form 26AS is a consolidated tax statement issued to the PAN holders. It is also known as Tax Credit Statement or Annual Tax Statement. It contains information about Tax Deducted at Source, Tax Collected at Source, Advance Tax, Self Assessment Tax, etc deposited by the assessee, Demand / Refund paid and AIR Transactions.
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You can track the status of your PAN Card application at the NSDL site after you have filed an application for a new PAN card or for a duplicate PAN card or for a reprint of PAN card. You should track your PAN card status at least after 3 days of submitting the PAN Card application.
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The primary reason for mismatch in TDS actually deducted and the amount reflected in your Form 26AS is due to errors or defaults in TDS return filed by the Deductor or feeding/punching mistakes during the payment of Advance Tax / Self-Assessment Tax.
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Medical Insurance is a type of insurance that provides protection against loss due to sudden illness. If you are insured and you fall sick, the Medical Insurance provider bears the expenses. Today, Medical Insurance has become very popular with the rise in medical expenditure and threat of various diseases.
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House Rent Allowance (HRA) is an allowance paid by Employer to their Employees to compensate for the house rent paid by them for their accommodation. House Rent Allowance is part of the Salary and it is chargeable to Income Tax.
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Income Tax is levied on the basis of residential status of an individual. Therefore, it is important to determine the residential status. Residential status is checked every year and it may vary from one year to another.
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Form 26AS is a consolidated Income Tax statement issued to the Permanent Account Number (PAN) holders. It is also known as Tax Credit Statement or Annual Tax Statement. It contains the details such as Tax Deducted at Source (TDS), Tax Collected at Source (TCS), Advance Tax, Self Assessment Tax, Demand / Refund paid and AIR Transactions etc deposited by the Assessee.
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