The last date for filing
income tax return (ITR) for FY 2018-19 (AY 2019-20) is 31st July 2019. The
filing of Income Tax Return in India requires some preparation. First of all, you
need to know the documents required for ITR in India. You need to gather all
the documents required for tax filing. Collecting all these documents will
ensure speedy and easy tax filing.
Filing tax return is once a
year activity if you don't commit any mistake while filing tax return. The
preparation taken before filing ITR can eliminate any common mistakes. Therefore
you should check the documents which are essential to do your taxes. In this
post, I will discuss in detail about the documents needed while filing income
tax return (ITR) in India.
Documents needed while filing Income Tax Return (ITR) in India
While ITR, you should keep
the below-mentioned documents readily available with you. You may not require
all the documents from the below list as the requirement of documents vary on a
case by case basis. If you have all these documents in place, you can file your
ITR easily without any hassle.
List of Documents needed while filing Income Tax Return (ITR)
1. PAN Card
This is an important
document which is required for tax filing. PAN (Permanent Account Number) is a
unique 10-digit alphanumeric number allotted to each taxpayer by Income Tax
Department.
2. Form-16
Form 16 is the most important
document required for filing ITR by salaried. Form-16 is your salary TDS
certificate. It has information about the income earned by you and the tax
deducted from your salary by your employer during the year. When you receive
Form 16 from your employer, do check it for the correctness of information
mentioned in it. If there is any discrepancy, you need to contact your employer
to get it rectified.
3. Form-16A
Form-16A is also a TDS
certificate regarding tax deducted at source on other income such as interest
on bank deposit. It is given by banks or other financial institutions which
deduct tax at source.
4. Bank Statement
a) Interest income
statement for fixed deposits
b) Statement of all bank
accounts or passbooks.
5. Form 26AS
Form 26AS is also an
important document while filing ITR. Form 26AS is your tax credit statement
which shows all taxes received by the Income Tax Department against your PAN
number during the financial year. It includes details of all the taxes deducted
from your income by your employer, bank, etc. This can be accessed from
the income tax department website. Always verify your Form 26AS for any
discrepancies before filing ITR for the year. Form 26AS can be downloaded by
visiting www.incometaxindiaefiling.gov.in.
6. Investment Proof under Section
80C
Documents related to
investment done under Section 80C like NSC (National Saving Certificate), NPS
(National Pension System), ULIP (Unit Linked Insurance Plan), ELSS (Equity
Linked Saving Schemes), PPF (Public Provident Fund), Life Insurance.
7. Other Documents
a) Your children's school tuition
fees
b) Home Loan detail and
interest certificate
c) Education loan interest payment
d) Stock trading statement
e) Advance tax payment
challan
f) Property details, if you
have purchased or sold any property during the year
g) Medical insurance
receipts
h) Donation receipts
8. Capital Gain Statement
You also need capital gain statement
for filing income tax return (ITR).
You have to mention the
details of capital gains while filing ITR. Gain from sale of the property can
be calculated manually. However, you need capital gain statement for sale of equity
mutual fund or shares.
Please note that now you
also require your Aadhaar Card as Aadhaar number or the enrolment Id of Aadhaar
application form has been made mandatory for filing tax.
This is not the complete list
of documents. The actual number of documents required while filing ITR varies on
a case by case basis. Also, the documents submitted by you to your employer are
reflected in your Form 16. Therefore, salaried individuals require only some
basic documents and Form 16 for filing income tax return (ITR).
You may also like to
read: Howto file tax return (ITR) online?
You may also like to
read: Most common mistakes people make while filing ITR
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read: 7 Habits thatcan make you rich
You may also like to read: Howto apply for duplicate PAN Card | Reprint PAN Card online?
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needed while filing Income Tax Return in India
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