9 Most Important Documents for Filing Income Tax Return in India

By | January 5, 2017
(Last Updated On: January 5, 2017)

9  most Important Documents for Filing Income Tax Return in India

1 Pan Card:

This card is issued by the income tax department to each person and on it is mentioned a unique alphanumeric ten digit code. Through this code, the government can keep track of all the financial transactions of any person and this card is a must for filing income tax returns. A person can be an individual or any other legal entity such as Hindu Undivided family, firm, company, trust, local authority, etc.

2. Form 16

This is for salaried people, and this form is given to the salaried person by the employer.

3. Form 16 A

this is issued by banks/institutions and is a certificate on tax deduction at source (TDS) for interests earned by any person.This is also issued by the Deductors of TDS (e.g in case of TDS on Commission , Professional Income etc)

4. Form 26 AS

This is downloadable from a person’s income tax account from the income tax website and provides details of tax deducted or deposited on behalf of the person by deductors.

5. All Bank Statements

This includes the savings bank statements as well as fixed deposit receipts for the Financial year for which return is to be filed . For Example if the return is to be filed for Assessment Year 2016-17 (Financial year 2015-16) , bank statements / Passbook should have entry from 01.04.2015 to 31.03.2016

6. Property documents

if any property has been bought or sold or rented then details of such transactions needs to be furnished.

7. Certificates of Items for Tax exemptions:

Deductions are applicable to home loans, tuition fees, health insurance and medical checkups/treatments, etc. and by furnishing certificates on such expenses, people can access deductions allowed for these under the Income-tax Act section 80.

8. All Investment Proofs:

People invest in many options like a mutual fund, bonds, LIC, Tuition Fees ,etc. Some of these investments are applicable for tax exemptions, whereas some other investments are taxable.

9. Self Assessment Tax/Advance Tax Payment Certificates:

This is applicable to people who have paid self-assessment or advance tax

It may be noted here that not all the above documents may be applicable for any particular individual. For example, if a person is self-employed then form 16 is not applicable to such a person.

Hence before filing income tax returns a person should check what all documents are applicable in his/her case and maintain a file of certificates/proofs pertaining to such items.

It is also advisable to have updated proof of address (like electricity bill, gas bill, etc.) and identity (Aadhar, passport, voter ID card). These are documents that would be generally required in all sorts of government dealings and not specifically for filing income tax returns. Aadhar card has become a very important general document, and as these days all accounts are being linked to it, to keep an Aadhar card is almost essential.

 

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