You may be a resident earning salary income in India. The Employer is giving you a Form 16 at the end of the year. However you liability doesn’t end here. You need to file an Income Tax Return in the right format. Now Income Tax authorities coded this Return Form as SARAL (meaning Simple), however it is far from being that Simple.
The challenges you may face here are:
- Which is my right SARAL?
- How do I tackle Income Tax Return when I am having Investment Income?
- What happens to the Interest I pay against my loan for a House Property, which is still not in my possession?
- Have I taken all the possible Rebates and Exemption under Income Tax act?
- Is my Income Tax Return take care of my Wealth Tax liability?
- What happened when I change my Employer in the middle of the year, and get two Form 16 instead of the usual one
Enormous amount of literature is available on internet to address the above problems. You may keep on reading them, and identify a solution OR you may identify someone like us, who will advise you correctly and take care of all your tax related compliances, so that you have a 100% peace of mind.