My Permanent Account Number – this is utmost important is it is just like a bank account number, the account number to which tax paid will be credited. If you do an error in filling this, tax deposited by you will go to somebody else’s account and you can’t reverse it.
My Assessment Year- This is also of utmost importance as tax credit will go to the year which I fill in. Every year tax is a separate bucket, so if my tax credits to the wrong bucket which does not require tax to fill in, then I have lot of problems in getting it back, once its gone. So I should be careful, that if I am doing advance tax during the year or the financial year, I should mention the next year in which I am living or to the next year to the financial year , for that is the Assessment Year.
Lets say I am currently in the financial year 2020-21, and if I am doing advance tax of my current income, the assessment year becomes 2021-22, so on advance tax payments now for my current financial, I will fill in Assessment year 2021-22.
But lets say in the current financial year 2020-21, I am doing or filing my last closed financial year tax return, which is for financial year 2019-20, my relevant Assessment Year to this will be 2020-21, so while filling in my Self Assessment tax, I should fill this up as the Assessment Year.
My address- I need to fill up my address, email id, mobile number.