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From THE HINDU group of publications
Sunday, July 29, 2001












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First tax, now tax returns

JULY 31 -- only two more days remain to file your tax returns for the assessment year 2001-02. If you are a person (other than a company) with income from salary/pension, house property, business/profession where accounts are not required to be audited under any law, being a partner of a business/profession firm whose accounts are not required to be audited under any statute, capital gains, interest on deposits with banks and any other source, you will have to file returns. Note the following things:

*Tax has to be paid if it has not been done already or deducted at source.

*In case of income from business/profession, the return must be filed in Form 2.

*In case income is from other sources, the return must be filed in Form 3.

*The forms are available on the Internet. The Web site is www.finmin.nic.in.

*Old saral forms can also be used.

*Permanent Account Number (PAN) must be quoted in the return and in all correspondence with the I-T Department. If you do not have PAN, apply and get one from the Department. -- BL Research Bureau


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