Steps to Add Other Incomes

1. Navigate to the Save Section

• Go to the Save tab from your dashboard.

2. Edit Tax Situation

• Click on Edit next to My Tax Situation to make updates.

3. Add Other Incomes

• Under the Other Incomes card, click Add Other Incomes to get started.

4. Choose the Type of Income

• Select from a wide range of categories:
  • Interest Income (e.g., savings account, FD, EPF, PPF, IT refund)
  • Dividend Income (earned from shares or mutual funds)
  • Gift Income (monetary, movable, or immovable)
  • Royalty Income (from books, patents, etc.)
  • Any Other (family pension, exempt income, agricultural income, or miscellaneous)

Let’s explore each category:

1. 💰 Interest Income

Report interest earned from various financial instruments, including:

• Savings Account
• Fixed Deposit (FD)
• Employee Provident Fund (EPF)
• Recognized Provident Fund (RPF)
• Income Tax Refund
• Public Provident Fund (PPF)
• Other Interest Sources (e.g. corporate bonds, NBFC deposits)

Note: If the total interest exceeds ₹10,000 in a year, banks may deduct TDS @10%. But don’t worry—you can claim deductions under Sections 80TTA or 80TTB!

2. 📈 Dividend Income

Earned dividends from stocks or mutual funds? Add them under the respective quarter in which they were received, along with any related expenses (like DP charges):

• Quarter 1: 1st Apr – 15th Jun 2023
• Quarter 2: 16th Jun – 15th Sept 2023
• Quarter 3: 16th Sept – 15th Dec 2023
• Quarter 4: 16th Dec 2023 – 31st Mar 2024

3. 🎁 Gift Income

Received a generous gift from a loved one? Declare it under the appropriate category:

• Monetary Gifts
• Movable Gifts (e.g., jewelry, vehicles)
• Immovable Gifts (e.g., house, land)

Note: Gifts from relatives are usually tax-exempt, but it’s important to report them correctly.

4. 📚 Royalty Income

If you’ve earned royalties from intellectual property, include them here:

• Royalty from Books
• Royalty from Patents

5. 🧾 Other Incomes

This section covers any income that doesn’t fall under the categories above:

• Family Pension
• Exempt Income (such as agricultural income)
• Agricultural Income
• Other – Got a unique income source? Add it here with a short description.

Note: Use the “Other” option to make sure no income goes unreported—even if it’s out of the ordinary.