Hi All,
My father met with one accident in 2009 dec. For the following years he did not do returns. As he was working in railways he did not file his returns 2009- 2010 yr and 2010 and 2011. But fortunately he was getting his salary thru railways and they have paid the income tax (TDS)for the year 2009-2010 and some small diff was there. we are intimated abt the diff. i paid that thru online.
NOw my question.
1. I dont have the income details of the year 2010 -2011. should he need to file the returns or he can leave?
As we have changed the address there is no chance of intimating us abt the excess we need to pay them. if one yr returns filing if we skip will tat be any problem?
2. I have the income details of this yr. 2011-2012. i will be doing the tax filling within this june along with mine..
These are the things to be kept ready before filling returns
3. MIS, RD interest (which matured this yr), FD interest, and any investment in tax savoing schems. Pls tell me did i leave anything? he has no long term or short term capital gains.
he has got the retirement benifits this financial yr and details below
PF payment details 6,93,323 (as my father is a govt employee and 30 yrs service this is not taxable)
Deductions (HBA ) –1,85,127 (we got a home loan from railways. will i be able to show this for deduction)
final net amount –15,21,058
4.In the above mentioned retirement amount which all are taxable?
5.Instead of calculating like this manually will i be able to see all these details online anywhere (form 16) ?
6. In calculating the interest of fd should i need to show the accumulated interest for this financial year?
I put a fd for 10000 in april. it has accumulated 900 as interest. That is not maturing in this financial year(2011-2012). should i need to add this fd to this year income or shall i add that when it matures?which is the correct way?
7. Rental income: Till now in my father s returns he is not showing rental income. should i need to add that?
As I am filling returns for the first time. I got so many queries. Pls help me by answering.
Thanks for the jagoinvestor forum.
Regards
Vignesh