If you are part of the group that must declare income tax, you must report your income and expenses every year. This is so that the government can analyze whether you are paying taxes correctly.
However, one detail that not everyone knows is that, even with exemption from IR, in some cases it is necessary to declare the amounts applied in the booklet.
However, take it easy. We will explain in detail how to declare your income and your savings in the 2023 Income Tax Declaration.
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How to declare Income Tax Savings
You probably already know that the Savings Account is exempt from IR. However, this does not exempt you from including it in the declaration. Your investments and financial assets must be included in the Annual Adjustment Statement, if you do so.
According to the established rules, whoever makes the statement must report balances in excess of R$ 140 in savings accounts. This is done on the “Assets and Rights” sheet, considering the balance of the last day of the previous year (December 31). Mark the code “04 – Applications and Investments”.
Savings account deposits must appear under code 01. It is important to know that since 2018 there have been some changes to the declaration of financial investments in this form.
There are specific fields to inform the CNPJ of the financial institution, the branch number (without the check digit) and the account number. You must also indicate the account number without the digit in the specified field, and its check digit in the DV field.
In the “Discrimination” field, inform the name of the financial institution, if the account is joint and, if so, include the CPF of the other holder.
Income
Savings income must be reported on the “Exempt and Non-Taxable Income” form. Here, it is not about the account balance, but the amount obtained through the financial application.
Financial institutions send the Income Report, which indicates the total obtained by savings in the year. Therefore, just replicate the information when filling out your statement.
It is also necessary to indicate the amounts in previous years. In 2023, for example, the fields “Status on 12/31/2021” and “Situation on 12/31/2022” must be filled in with the values detailed in the income report sent by the financial institution.
You must choose code 12, specific for “Income from savings accounts, mortgage bills (LH), agribusiness and real estate letters of credit (LCA and LCI) and certificates of agribusiness and real estate receivables (CRa and CRI)”.
In addition, it is necessary to show whether the income belongs to the holder or to one of the dependents of the declaration. Also inform the name and CNPJ of the paying financial institution and the amount of income.
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