List of Documents You Need to Prepare Before ITR Filing

Regularly filing income tax returns (ITR) is one of the ways to fulfil your duty of being a responsible citizen. Even people with an income below the basic exemption threshold for income tax are encouraged to file ITR for record-keeping. Not to forget, ITR works as documented evidence of your income and is a must to avail of products like loans.

But what are the documents required for an income tax return? While you're not required to submit proofs or documents while filing tax returns, and most details in the ITR forms are pre-filled, you might have to provide additional details. Therefore, you'll need the right documents where such details are available so you can fill out the ITR form correctly and verify the details.

Before you start filing your tax returns, you should-

1. Link Aadhaar with PAN

It is mandatory for every taxpayer to link their Aadhaar with their PAN (Permanent Account Number) before filing tax returns.

2. Choose the Right ITR Form

Currently, there are 7 types of ITR forms available for taxpayers,

• ITR-1 (Sahaj)
• ITR-2
• ITR-3
• ITR-4 (Sugam)
• ITR-5
• ITR-6
• ITR-7

Taxpayers should select the correct ITR form according to their taxpayer category for income tax filing.

If you're a salaried employee, here are the documents required for ITR filing

1. PAN

PAN is one of the most important documents to file tax returns successfully. It enables the tax department to accurately track the financial transactions performed by the taxpayers.

2. Form 16 (From Employer)

Form 16 is a certificate issued by the employer. It includes detailed information about your income and TDS (Tax Deducted at Source) deducted by the employer.

3. Monthly Salary Receipts

The tax filing form requires the taxpayers to provide various details, like salary, deductions, allowances, etc. All of these details are generally available on the monthly salary receipts you receive from the employer.

4. House Rent Allowance (HRA), Leave Travel Allowance (LTA), etc.

If you're claiming deductions or exemptions, like HRA, LTA, etc., details regarding the same should be provided while filing tax returns.

If you've made investments where you generate an interest income and would like to claim deductions under Section 80TTA of the IT Act, you'll need the below-mentioned documents to provide details regarding the same-

• Bank statement to show credit of interest income
• Interest income statement issued by the bank or other financial organisation
• TDS certificate if TDS is deducted from the interest income

At times, taxpayers end up paying more income tax than their actual tax liabilities. For instance, it can occur when a salaried taxpayer wants to claim a deduction or exemption and has not provided proof regarding the same to their employers. As a result, details about the same are not included in their Form 16, leading to a higher tax liability.

In such cases, they can file tax returns and provide the necessary details to claim a refund. You'll need proof of such deductions and the income tax return filing documents to claim a tax refund.

• Concerning the documents required for ITR filing, you must note that the ITR forms are 'annexure less' returns. This means that you are not required to attach any proof or document when filing the returns.
• But for deductions, you are required to obtain and maintain the necessary proof or certificate as they can be used as a reference in the future in case you get a notice from the IT department for clarification of any transaction.

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Read More: 8 Smart Ways to Use Your Tax Return Money