An individual is not required to submit any documents while filing an income tax return. However, there are several documents that are required to finalise tax returns. Here is a list of such documents.
Filing an income tax return (ITR) involves a lot of documents related to the taxpayer’s finances. These documents may not be required for submission, but are essential to finalise the ITR.
Below are the different documents that are needed for filing ITR.
PAN card and Form 16
PAN card and Form 16 are crucial for ITR filing and must be kept handy. Form 16 is issued by the employer and includes details like salary, various allowances and the tax deducted at source.
Form 26AS picks up the tax deducted at source by different entities and paid to the Income tax authorities on behalf of the taxpayer. This form can be downloaded from https://www. incometaxindiaefiling.gov.in/home or https://contents.tdscpc.gov.in/en/taxpayer-home.html or the tax payer’s internet banking website.
Claiming IT deductions
To claim deductions for expenses or investments, proof like receipts, certificates or account statements need to be maintained. Documents related to investments and redemptions/ sale of mutual funds, shares, and other securities also need to be put together to ascertain the income from capital gains. Mutual fund consolidated statements, transaction statements, contract notes issued by the broker can be referred to for the same.
The interest certificate needs to be obtained from each bank where the taxpayer holds a savings or FD account. One can also download the same using the internet banking or collect a physical copy from the bank branch.
Home loan documents
In case of an ongoing home loan, the interest certificate issued by the financing bank or company, is the document to refer to.
Points to note
- Each individual may need a different set of documents depending on his/her sources of income.
- Aadhaar card is mandatory for filing return and in case the same has been applied for, the enrollment ID. needs to be quoted.