THIS WHOLE SECTION IS UNDER CONSTRUCTION

I joined IBM India in October 2005. The financial year (in India), as you all know, ends on 30th April. Accordingly, the first financial year for me ended 30th April 2006. Around May end, I was sent the “dreaded” Form 16. I had absolutely no idea what to do with it. This is an attempt to document my efforts and learnings in filing a tax return; the first one of my life.

But before we begin, let me clarify a few things. This is not a comprehensive guide to the tax laws of the country. Instead, it just talks about the simplest procedures of filing a tax return ASSUMING you are a salaried person and have NO OTHER MEANS OF INCOME. Besides, there are still quite a few nooks and corners which require a lot of in depth study. So dont expect much, just the very basics. Here’s what you need to do:

• Step 1: Know the Important Dates
• Step 2: Obtain the SARAL form
• Step 3: Fill up the SARAL form
• Step 4: Attach all required documents
• Step 5: Submit the form to the Income Tax Department

Although I am sure this whole tutorial will be outdated in less than a year, I hope this makes your taxing lives a little simpler. So, lets start.

Step 1: Know the Important Dates >>