Know all about Income Tax, ITR to Form 16, AIS and 26AS

e-filing It refers to filing your income tax return online using either the income tax website or any other online portal.

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ITR It stands for Income Tax-Return. A form taxpayers have to submit to the Income Tax Department. It carries information about the taxpayer's annual income and the taxes s/he is liable to pay

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Taxpayers A taxpayer is an individual or business firm that is bound to pay taxes to the government for earning more than the tax-free limit.

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Form 16 This is a certificate from your employer that tax has been deducted from your salary and deposited on your behalf. A salaried person can get Form 16 from his/her employer.

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AIS Annual Information Statement (AIS) carries the details of your financial transactions for a financial year. AIS helps you in filing the appropriate ITR form.

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Form 26AS This is the statement which provides details of the tax deducted, collected and paid during a financial year.

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