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Important Documents for filing ITR

The deadline for filing Individual ITR without audit is July 31. So, now you need to start collecting the documents to file your ITR. Millions of Indians are required to file income tax return (ITR) at end of every financial year.

It is now mandatory to submit a break-up of gross salary, income earned from house properties and income from other sources while filing ITR1 form, there are some documents you should collect and things you need to do before filing your ITR for FY.

1. Form-16

If you are a salaried person, this is the most important document required to file your Income Tax Return (ITR).  Form 16 is primarily a TDS or Tax deducted certificate issued to you by your employer to provide details of the salary paid to you and TDS deducted on it. Any employer who deducts TDS from salary must provide a Form 16 to employees. If there is no TDS is deducted from your salary, then also you can ask your employer for form 16. 

Form 16 has two parts as part A and part B. Part A includes information regarding deductions by employer as well as PAN details of employee. Part B includes gross salary break-up details like free allowances and perquisites. Government has recently amended the Form-16 format which provides detailed breakup of the tax-exempt allowances and taxable allowance paid to the employee.

2. Aadhaar Card/ PAN Card

Aadhar card is now become mandatory from 1st April 2019 for filing ITR as per the Section 139AA of the Income Tax Act. It states that an individual must submit his/her Aadhar details while filing Income Tax Return (ITR). If you have applied for Aadhar card but haven’t received yet, then you would be required to provide the enrolment ID in your tax return.

In current FY 18-19 We need PAN of employee for filling Income tax Return.

3. Bank account details

For Claiming Income tax refund, we need to provide bank account details to Income tax department so please keep all the details of bank like Bank name, Account Number IFSC Code and Account Type by Taxpayer.

4. Salary Slips

Salary Slips is another important document where all income details and their bifurcation like Basic Salary, Dearness Allowance, House Rent Allowances and Perquisites are mentioned which is helpful for taxpayer to file their tax return.

5. Deduction Claiming certificates

For Claiming the deduction in income tax return, we need certain document or certificate such as investment proof for claiming the deduction under section 80C like Tax saver FD (5 year), Investment in NPS, PPF, Principal amount of home loan etc.

6. Form 26AS

Form 26AS is your consolidated annual tax statement. This is like your tax passbook which has information of all the taxes that has been deposited against your PAN 
That includes TDS deducted by banks or your employer or any other organisations from payments made to you, Advance taxes deposited by you during the financial year and Self-assessment taxes paid by you.

7. Interest certificates from banks and post office

ITR forms to identify the source of their interest incomes like that earned on savings account, fixed deposits or any other income. In case your bank does not issue an interest certificate, you should ideally keep your passbook will help you find exact details related to interest credited to your account till the end of the financial year.

Such Document need not to be uploaded to income tax department but for safer side we need to arrange such document it will help you if scrutiny arise on you by department.

8. Home loan statement from bank/NBFC.

For Claiming the exemption of Interest paid on home loan we need bank statement where it Clearly mentioned the details of Principal and Interest amount paid and details of house property as well as the year in which such amount paid by the taxpayer.

Post Author: Tachotax

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