Everything regarding Income Tax (For Assistant Teacher Primary School)

Discussion in 'Tax' started by suvro, Jun 22, 2015.

  1. suvro

    suvro Novice

    Hello,
    I am confused about the process of income taxtax raturns, e-filing, 16 A form etc. I am just heared this terms really not know anything properly. I have some questions regarding this matter. Usually Teachers Unions do the job of income tax matters on behalf of teachers. But I want to know the entire matter and want to do it myself.


    1) What is 16A form? Form where I have to collect it? From SI(P.E)/ DI(P.E) office?
    2) What is the time I mean from which month I can file Income Tax Return?
    3) After filling the form 16 what I have to do? Deposit it in SI office or what?
    4) I have heared that we need Lawyer for file the IT return? Can't we file it ourselves?
    5) After 16A form when to file e-return online ?

    Please help me.
    Thanks
     
  2. sourishjal

    sourishjal Staff Member

    @suvro, I am trying to answer to your queries as simply as possible.

    1) Form 16A is, in short, the receipt of the deductions you ought to make by the end of a financial year (supported by documents) in respect of your Gross Salary as per the norms stipulated by the government. For further details visit the link: http://www.moneycontrol.com/master_your_money/stocks_news_consumption.php?autono=1003531.

    2) As you are a service man you will have to fill up the SAHAJ (ITR-1) form manually or online (http://incometaxindiaefiling.gov.in/).

    3) As for Form-16A, every year your employer/ DI will issue this document. It is a certificate under section 203 of the Income-Tax Act, 1961, which gives information on the tax deducted at source (TDS) from income chargeable under the head “salaries”. It gives details of the tax deducted by the employer. You will have to submit the deductions through Form-16. In short, Form-16 functions as the challan for the amount of Tax you deduct or deposit throughout a financial year and Form-16A marks the closure of all financial dealings between you and the govt.

    4) You can deduct the Tax yourself through Form-27A (Tax Deposit Form to SBI) or through any financial consultant. You better do it online through the above website.

    5) After getting the Form-16A from your deductor (DIs/SIs) you go to the above website and click on the link 'online filing of ITR' and submit the details. But before that you must register yourself to the website.

    You pay tax through the challan (Form-16) and get the final receipt (Form-16A). It is as simple as that. Hope, it's all clear now.
     
    Last edited by a moderator: Jun 23, 2015
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  3. gpgarain

    gpgarain Following You. Staff Member

  4. suvro

    suvro Novice

    @sourishjal , @gpgarain Thank you very much for the valuable information, you provide me. It help me a lot.

    1) After filling the form 16A, should I submit it to SI/DI ?
    2) Is salary statement a necessary in this case?
    3) from which month in a assessment year this work can be done?
     
  5. gpgarain

    gpgarain Following You. Staff Member

    1. You need to collect Form 16 from your DDO (Drawing and Disbursing Officer). In it you will get every details ( such as your gross salary, Tax deducted at source (TDS), TAN No, name and address of your DDO etc.) required for e-filing Income Tax Return. Keep Form 16 for your personal record, i.e., a document for your salary and TDS.

    2. Necessary salary details will be available in this Form 16.

    3. You will have to file Income Tax return online (http://incometaxindiaefiling.gov.in/) within August, 2015 by filling up SAHAJ (ITR-1) as mentioned by @sourishjal in his post. After you prepare and submit ITR-1 online you will be provided Form V as acknowledgement of your submitting Return. You need to take 2 copies of printout of it, one for keeping as your personal record and the other will have to be sent to CPC (Central Processing Center) with your signature in general/ speed post within 120 days of e-filing of ITR. The address of the CPC will be clearly mentioned in Form V.
     
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  6. suvro

    suvro Novice

    Thank you Sir