The state grants tax benefits to conscientious taxpayers in the form of a refund of part of the income tax on the types of costs provided for in the legislation. With the skillful use of this right, you can significantly reduce financial spending and correctly calculate your personal budget.
Income tax refund: when is it made?
The rules for granting social tax deduction are listed in Art. 219 of the Tax Code of the Russian Federation. The list includes the following cost categories:
- payment was made for training in a kindergarten, school, university;
- expensive treatment was paid for, medicines were purchased;
- the taxpayer bought a voluntary health insurance policy;
- incurred expenses for charity;
- additional funds were contributed to the funded part of the pension;
- contributions were made under the voluntary pension co-financing program.
In addition to the social deduction, it is possible to return part of the costs of the acquisition, construction or sale of real estate or other property provided for in Art. 220 of the Tax Code of the Russian Federation. To receive a property deduction, it is necessary that the sold real estate or other property has been owned for more than 3 years.
For the acquired property, this list is wider; a 13% return can be claimed when paying for mortgage lending costs; for construction; finishing and completion of living quarters. For this category of beneficiaries, there is a limit on the amount paid. Depending on the type of costs, funds are transferred to the taxpayer's current account or used for tax deduction in future periods.
Who can qualify for an income tax refund
- officially working citizens of the Russian Federation; In this case, personal income tax is withheld and transferred to the budget by the organization - the tax agent;
- all citizens of the Russian Federation who independently pay income tax at the established rate of 13%;
- tax residents who in good faith pay personal income tax;
- taxpayers receiving pension payments - both working and non-working, but only those who have had an official place of work for the last three years.
Social and property tax deduction is provided on the basis of a 3-NDFL declaration and a corresponding application. It is allowed to include in it expenses incurred within 3 years preceding the filing of the declaration. Copies of payment documents and a 2-NDFL certificate for the period for which you need to reimburse costs should be attached to the declaration.
The procedure for filling out the 3-NDFL declaration is quite simple; everyone who has the right to do so can take advantage of the benefits. If a person appreciates his work and knows how to count money, it will be the right decision not to miss this opportunity.
