It is important that one files the income tax (IT) correctly and for that one must make sure to include following income as stated below:
- Dividend Income (
Sec 2(22) - Includes debentures issued to shareholders and bonus shares allotted to preference shareholders).
 
- Winning from Lotteries, Crossword Puzzles, Horse Races and card Games.
 
- Interest on Securities (
securities is taxed at special rate of 30% (cess 3%) irrespective of one’s income tax slab. )
 
- Pension Received by legal heirs of Deceased (
sec 57 legal heirs can claim standard deduction of 33 1/3% or Rs 15000 whichever is less.)
 
- Gifts of money from unrelated Person (section 56(2)).
 
- Interest from Savings A/C which is exempt upto Rs 10,000 wef FY 2012-13
 
It is important that one files the correct income tax by calculating these amounts else one can get a notice with penalty for the payment of IT dues.