Income Tax Return documents ease the filing process of Income Tax Return. Further, the procedure, as well as the form applicable for filing ITR varies as per the sources of income but, the documents almost remain the same.
Documents Required for ITR Filing
The Income Tax Return documents are as follows:
PAN and Aadhaar
The first and foremost income tax return documents are PAN and Aadhaar. This is so because there cannot be filing of ITR without a valid PAN and Aadhaar. The PAN as well as the Aadhaar acts as an identity proof of the person filing the ITR. Further, the Aadhaar must be linked with PAN for ITR filing. In addition to this, Section 139AA of the Income Tax Act mandates that the assessee must provide his/her Aadhaar details while filing his/her return of income.
Form 16
Form 16 also known as TDS Certificate for Salary is another important document among other Income Tax Return documents. This form is provided by the employer to the assessee after furnishing the information of taxes paid on his behalf. Thereby, this form contains the details of the assessee’s salary, allowances, exemptions, deductions as well as TDS amount.
Please note that apart from Form 16, there are 3 more TDS certificates namely Form 16A, Form 16B, and Form 16C. And, these forms are equally as important as Form 16.
Also Read: Section 192: TDS on Salary
Form 26AS and Annual Information Statement
The next important Income Tax Return documents are Form 26AS and the Annual Information Statement. On the one hand, Form 26AS is an annual consolidated statement, which contains all the tax-related information of the taxpayer. On the other hand, the Annual Information Statement (AIS) is an annual comprehensive statement that contains details of all the financial transactions of the assessee in a relevant financial year. Further, AIS is comprehensive because it contains details of salary, dividend, interest from savings accounts, etc as well as information wrt TDS, TCS, and any tax demand or refund. Accordingly, these documents are very much useful for filing ITR.
Interest Income Statements
There may be cases wherein the assessee may have income from other sources such as interest on FDs, interest on the savings account, mutual funds, etc. Accordingly, in such cases, the interest income statements are essential income tax return documents for filing ITR. This is so because the assessee has to report all his/her income from all the sources in the ITR and it should be the correct amount. If there will be any mismatch in the actual amount of interest and interest that the assessee mentions in ITR, then he may get a notice from Income Tax Department.
Also Read: All You Need To Understand About Mutual Fund Taxation SIP
Capital Gains Statements
In addition to the above, the assessee may also have income from capital gains from the sale of capital assets. And therefore, he has to declare this income also in his/her ITR. Further, the assessee has to mention the amount of capital gains in the ITR, even if it is tax-exempt.
Also Read: How To Treat Income From Transfer Of Shares?
Section 80 Investments
Section 80 investments are the deductions that help assessee in saving taxes significantly. Therefore, the Section 80 investments documents are the heart and soul of the Income Tax Return documents. Consequently, the document required for claiming deductions under Section 80 are as follows:
| Section | Deduction | Documents Required |
|---|---|---|
| 80C | Investments in specified schemes | Life insurance premium payment receipts Public Provident Fund (PPF) deposit receipts Employee Provident Fund (EPF) contribution statement National Savings Certificate (NSC) certificates Tuition fee receipts for children’s education Repayment certificate for home loan principal repayment 5-year fixed deposit certificates with banks Equity Linked Saving Scheme (ELSS) investment statements |
| 80CCC | Pension funds | Receipts or statements for contributions made towards pension funds |
| 80CCD(1) | National Pension System (NPS) | Contribution statement from NPS or employer |
| 80CCD(1B) | Additional contribution to NPS | Contribution statement from NPS |
| 80CCD(2) | Employer’s contribution to NPS | Contribution statement from employer |
| 80D | Health insurance premium | Receipts for health insurance premium payments |
| 80DD | Maintenance of a dependent with disability | Medical certificate, Form 10-IA |
| 80DDB | Medical treatment of specified diseases | Medical certificate, prescription, bills |
| 80E | Interest on education loan | Loan statement, interest certificate |
| 80G | Donations to approved charitable institutions | Receipts or acknowledgments from the charity |
| 80GG | Rent paid for accommodation | Rent receipts, rental agreement |
| 80GGA | Donations for scientific research or rural development | Receipts or acknowledgments from the institution |
| 80GGC | Donations to political parties | Receipts or acknowledgments from the party |
| 80TTA | Interest on savings account | Bank statements or passbook entries |
| 80TTB | Interest on deposits for senior citizens | Bank statements or interest certificates |
| 80U | Disability deduction | Medical certificate, Form 10-IA |
Also Read: A Quick Look At Deductions Under Section 80C To Section 80U
Challan of Advance Tax or Self Assessment Tax
Advance tax is a tax that is paid by the assessee in advance by self-assessing the tax liability. Further, the payment of advance tax is made through Challan 280. The tax that has already been paid is reduced from the actual tax liability of the assessee. So, the challan of advance tax or self-assessment is also an essential document for ITR filing.
Also Read: How To Pay Advance Tax Online? (Challan 280)
Others
Last but not the least, some of the other documents which may be essential for filing of ITR are as follows:
– Rent Agreement
– Bank passbook/statement
– Form 15G/15H
– Dividends statements
– Agricultural income receipts/details
– Clubbed income details
– Lottery/prize-winning statements/receipts, etc
Important Note:
The above list is not exhaustive. Further, the views of the authors are personal. Kindly take the help of experts at TaxHelpdesk before taking any action.
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