Documents needed for filing Income Tax Returns in India

 

Tax Consultant in India

Income Tax Return (ITR) is a kind of self-assessment of income tax. You should complete this formality to get the tax refund, if any. Although income tax return filing has become easier, it will help if you keep your documents ready.

ITR is also required if you are trying to apply for a bank loan. If you plan to emigrate to another country, the visa officers would ask to see your ITRs. It is also necessary if you plan to move out of a salaried job and want to start up a new company.

Documents for E-filing ITR or Income Tax Return :

Here is a list of some important documents which are needed at the time of ITR:


1. Pan Card
2. Bank account information
3. TDS certificates (if applicable)
4. Tax payment challans (Self-assessment, advance tax)
5. In case of revised return/return in response to a notice received from Department of Income-tax - You need the details of Original return/details of notice 
 
Details are here:
 
1. PAN card :
The first thing you need while filing your Income tax return is your PAN Card.Having a valid PAN is a prerequisite for filing your Income tax return. PAN is your identity proof and quoting PAN is mandatory in various documents including your Income tax return.

2. Form 16 received from your Employer :
For salaried individuals, tax is deducted from your salary before it is credited to your account. The employer, at the end of the fiscal year, will provide you with your Form-16, which contains your salary details, the tax exemptions under various heads based on the documents you have provided to your employer, and your personal information. This Form 16 – in two documents: Form 16A and Form 16B – is mandatory to file your ITR.

3. Form 16 A received from Banks :
Form 26 AS can be downloaded from the TRACES website. It shows Tax deducted and deposited on your behalf by the deductors. It is provided by Income Tax department.In simple terms, it shows the total tax paid against your PAN during a financial year.You can easily download it by logging your Income Tax E-filing Account.As you login and select Form 26 AS option you shall be redirected towards the TRACES website,from where you can get your Form 26 AS.
 
4. Property Details :
If you have bought or sold any property during the financial year, you need to have details as to ownership,any rental income, purchase or sale date,sale proceeds etc.In case of property sold,you have to give details of any short term or long term capital gains thereon .

5. Business/Professional Income Details :
If you are a sole proprietor, a freelancer, a blogger, an artist or any other professional etc. you should have details of your turnover or receipts, any expenses incurred to generate such revenue like remuneration, travelling expenses, depreciation,telephone and internet bills and other supporting documents.

6. Self assessment Challan/Advance tax Challan :
If you have paid any self assessment tax or any advance tax, you need the respective challan to fill in the respective details in your Income tax return or ITR Form.

So just keep the above mentioned documents while filling the Income Tax Returns. You may consult with the Tax Consultant in India/ Tax Advisor in India for any kind of help.