Receive record such as Form 16, PAN of house owner if HRA is claimed and rent paid is more than 1 lakh p.a., Bank Statement(If Form 16 is not available) and supporting documents to claim additional exemption.
House Property Income:
Housing Loan Interest Certiticate, Rent Agreement(If rent received)/Bank Statement, Address of House Property, PAN of Tenant and In case of Joint Owner of property Co-owner/s details such as Name, PAN and Share in Property.
Tally Backup or any accounting system backup, Bank Statement(In case of single Entry System), Loan Statements and Fixed Asset Addition Bills .
Sales and Purchase Agreement of Property Sold. Capital Gain statement from Share Broker. Agreement/REC Bond/NHAI Bond etc if claiming exemption for capital gain.
FD Interest Certiticate, Bank Statement,etc
Deduction under chapter VIA:
In case of only Salary Income, receipt of any additonal deduction not claimed in Form 16. PAN of Donee if deduction u/s.80G is claimed
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Check the Form 16. Confirm with client with respect to any additional exemption or deduction.
In case of Self Occupied Property: Check whether Interest is claimed as per Interest Certificate.
In case of Let out Propery: Check the Rent Agreement/Bank Statement for rental receipt. Take the Address of House Propertyand PAN of Tenant.
In case of Single Entry System, Scan the Bank Statements and Loan accounts and prepare Financials. Check whether profit shown is more than presumptive taxation.
In case of Presumptive taxation, Calculate the receipt as per Bank statement/Sales Invoices in case of section 44AD/44ADA and number of goods carrier vehicle in case of section 44AE. Also check the 26AS and confirm that total receipt showing in Income Tax return should not be less than amount shown in 26AS.
In case accounting has been done, check and finalise the accounts.
Calculate the Long term and Short term capital gain. In case any exemption is claiming, check the property is purchase/investment is made within the period mention under section in which exemption is claiming.
In case of depreciable assets, Sales Invoice/Agreement. Short Term Capital Gain arises only when assets ceases to exist or blocks become zero.
Confirm with client regarding any other sources of Income such as FD Interest, Commission, Brokerage,etc . Check whether any other TDS(other than salary) is reflected in 26AS and corresponding income is to be shown in respective head.
Enter the all the details in Income Tax Utility/Software