Income Tax Return Filing – Documents requiredts
Every citizen who is payable to taxes, should file income tax returns. To file ITR online, you will need a set of documents and this changes from person to person respective of their income and Tax Slabs.
Here in mentioned the list of all essential documents for the filing of income tax returns.
- Pan Number: It is used at the time of login at Income Tax E- filing portal & also used in ITR forms.
- Form-16: also known as TDS certificate (should be issued by your employer mentioning details of salary exemptions and deductions).
- Form-16A: Issued by the tax deductors other than employer.
- Form-26AS: Contains details of Tax paid against PAN. Should be used to match TDS of 16 and 16A forms.
- Statements of bank accounts or passbooks.
- Fixed deposit statements (sometimes when the interest income on FD is taxable).
- Investment Proofs under Section 80C – This varies from individual to individual depending on tax saving type.
The different proofs that can be produced for Income Tax Return Filing are:
- Public Provident Fund Receipts
- Insurance Receipts
- Home loan reports
- Education loan Receipts
- National Saving Certificates
- ULIPS, ELESS, RGESS
- Tuition Fee Receipts
- Pension Plan Payments
- Proofs to avail exemptions:
- All the expenses receipts such as House rent, Medical expenses, life insurance premiums, stamp duty.
- Investment Proofs under Section 80 D and 80 E.
- Share (equity) Transaction Statements: if you are earning through equity market, those are capital gains. The tax is levied on short term capital gains (stocks within a year).
The Income Tax Return filing should depict everything about your incomes, expenses, applicable exemptions and deductions. So if you produce something in income tax return, you should be also stating all the proofs. To keep away all the tax related chaos, provide legitimate information.
File ITR online by yourself on TaxRaahi – online portal for filing ITR.