Monday, 20 May 2019

Documents needed while filing Income Tax Return (ITR) in India

Documents needed while filing Income Tax Returns (ITR)

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

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: 7 Habits thatcan make you rich

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