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END OF FINANCIAL YEAR TASKS

As it is the end of the financial year. It is very important to gather documents of income from all sources, pay taxes and make it easy while filing IT returns.

You have to pay taxes on following incomes as an individual (but not limited to)

1. Income from Salary – Get Form 16 from Employer – You may receive it in April/May

2. Interest on Fixed/Recurring Deposits – Get Interest certificate from your banker (Even if FD/RD doesn’t mature, you have to pay tax).

3. If you have sold shares/equity/debt mutual funds – Get Capital gains statement.

4. If you have sold a piece of Land OR any sort of Real Estate.

5. If you have sold Gold.

6. If you have sold bonds /debentures.

7. If you have received Gifts above Rs 50,000 from non-blood relations.

8. If you have withdrawn Employee Provident Fund in less than 5 years.

9. If you have received Gratuity above 10lacs in your life till now.

10. If you have sold unlisted shares.

11. If you have any professional/business income.

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