Income Tax Return or ITR forms are different on the basis of income sources. Specific documents of the taxpayer are required to file ITR.
Other documents required may differ based on the income situation. These documents are not required to be submitted to the IT Department while filing the Income Tax Return. Since ITR is an annexure-less form. However, if a taxpayer receives a notice from the ITD such documents may be required to be submitted.
List of Basic Documents required for filing the Income Tax Return – ITR
Following are the basic documents mandatory to file an ITR in India:
- PAN (Permanent Account Number)
- Aadhar Number
- Form 26AS
- Bank Account Details
- Challan of any advance tax or self-assessment tax (if paid during the year)
- Details of the original return (if filing a revised return)
Documents Required for Different Income Heads
Salary Income/ Pension Income
Following documents are required from taxpayer having salary/ pension income:
- Form 16
- Salary Slips (If form 16 is not available)
- Pension Statement / Passbook
House Property Income
The following documents are required to determine when rental income is earned by a taxpayer or there is a home loan. These documents will help determine the correct deduction and Income from House Property.
- Property Address
- Rent Agreement
- Co-ownership details in case of co-owned property
- Municipal Tax Receipts
- Form 16A if TDS is deducted on rental income
- Home loan repayment certificate/ Interest Certificate from the bank
- Pre-Construction Interest Details
Capital Gains Income
When an individual sells any movable or immovable property a Capital Gain arises. It also includes the sale of shares and securities.
- Sales and Purchase deed, stamp duty valuation in case of sale of the land/ building
- Details of Improvement cost.
- Details of expenses incurred on the transfer of capital assets
- Proof of cost of the asset, cost of improvement and sales receipts in case of movable assets
- Details of investment made to claim exemptions
- Capital Gains Deposit Account details if any
- For shares & securities- Trading statement/ Stock Ledger/ Contact Notes
Business and Professional Income
Following are the documents required to file the return if you are earning any income from Business and Profession during the year:
- Balance Sheet and Profit & Loss Statement
- Bank Account Statement/ Passbook
- Supporting documents for expenses incurred
- Cash Register
- Any other documents required to maintain the books of accounts of the business & profession
- Audit Report in case the profit from the business is less than 8% of the Total Turnover.
Income from Other Source
Any income which does not fall under any of the above heads of income, in that case, it will come under the head Income From Other Source.
- Total Interest income earned from savings/ current account
- Interest certificate from deposits/ Bonds/ NSC
- PPF Account Statement/ Passbook
- Dividend Warrants/ counterfoils
- Proof of details of receipt of any other incomes
- Rent Agreement in case of let out machinery
Documents Required for Tax Saving Investments (Section 80)
One can invest in some of the tax-saving investment schemes to save taxes and claim a tax deduction. Following are the documents that come in handy for tax saving investment made:
- ELSS/ ULIP/ NSC investment details
- PPF account passbook/ statement
- Life/Medical Insurance Receipts
- Details of Tax Saving FD
- National Pension Scheme investment details
- Senior Citizen Saving scheme investment details
- Donation Receipts
- Children Tuition Fees Paid Receipts
- Repayment Certificate for home loan/ education loan
- Certificate from specified medical authorities in case of disability
- Receipts/proof of any other tax saving investment/contributions
Documents Required for Foreign Income and Foreign Investments
- Details of foreign income and taxes deducted on the same
- Details of Assets held outside India including the foreign bank accounts.
FAQs
The basic list of documents required to file ITR is as follows:
PAN (Permanent Account Number)
Aadhar Number
Form 26AS
Bank Account Details
Challan of any advance tax or self-assessment tax (if paid during the year)
Details of the original return (if filing a revised return)
It is a certificate of TDS on salary. Every employer issues Form 16 to an employee after the end of a Financial year. Employees usually receive Form 16 before 31st May of the next financial year. It contains details of income earned and the taxes deducted. Furthermore, Form 16 is divided into two parts: Form 16 Part A and Form 16 Part B.
It is a consolidated Tax Credit Statement which provides the following details to a taxpayer:
1. Details of taxes deducted from the taxpayer’s income.
2. Details of taxes collected from taxpayer’s payments.
3. Advance Taxes, Self Assessment Taxes, and Regular Assessment
4. Taxes paid by the taxpayers.
5. Details of the refund received during the year.
6. Details of any high-value transactions (for eg. Shares, Mutual Funds, etc.).
Hey @TeamQuicko
Can you tell me about ITD’s new ITR filing utility for AY 2021-22?
Hey @HarshitShah
To improve the tax filing process, the Income Tax Department has decided to do away with the excel and java-based utility and has launched a new offline JSON-based utility for the AY 2021-22. The new utility will help taxpayers import prefilled data and edit it before filing the income tax return (ITR).
The taxpayers can download the pre-filled data from the income tax e-filing portal and fill in the rest of the data. This imported prefilled data can be edited to change basic information such as address and all. Currently, the utility can be used to file ITR1 to ITR 4. ITD has also released a step-by-step guide to using the utility.
Hope this helps!
Is it possible to file ITR online without an account on the Income Tax e-filing portal?
What should be done in case of discrepancies in actual TDS and TDS credit under Form 26AS?
Hey @Amitabh_Verma
It is mandatory to create an account on the Income Tax e-filing portal to file your ITR online. It is a hassle-free quicko process. One can register on the portal by providing relevant details such as user type, PAN, first name, surname, date of birth, and fill in the registration form.
Hey @Niraj
Many times mismatches and discrepancies in actual TDS and TDS credit under Form 26AS happen because of wrong information provided in the TDS return. One can approach the employer/deductor to file a revised TDS return after making the necessary corrections.
The income-tax department allows an assessee to mention the reason for mismatch in the online portal in answer to a notice sent by them.
Hope this helps!
Hi, actually I filed ITR 1(A.Y. 2013-14) due to notice served in Jan month.
The ITR is pending for verification. Ask the options aren’t available for me client i.e Aadhar verification,evc etc. Only thing is I got my clients DSC. but option of DSC for e-verification is not showing. I can’t send CPC to Bengaluru since it will take time. How can I use DSC to e-verify my already filed return
Hi @Arsheen
The option to e-verify ITR using DSC is to be selected while filing. Once you have filed your ITR only option available for e-verification is EVC/Aadhar OTP or sending ITR V to CPC Bangalore. You have 120
days from the date of e-Filing to e-verify your ITR.
So if 120 days are not over you can send the signed ITR V to CPC Bangalore to get it e-verified and processed.
Hope this helps
Hi @Sharath
It is suggested to file ITR as NRI in India if you have trading transactions even if there are losses.
If you do not file ITR then there are high chances of your PAN getting flagged by the IT department for non-filing of ITR.
Also, If you file the ITR on time you can take benefit of carry forwarding the losses and setting off those losses against the profits in future years.
I have started an HUF by infusing funds by collecting gifts from HUF members. If I invest in Shares, Equity MF, from that Capital (Collected as gifts from members), and earn income in the name of HUF, will that income be clubbed with the income of the members?
In a way that will be the outcome of the business (trading and investing of shares) done by HUF. And there will be a degree of efforts and luck involved, not a fixed income instrument as FD, etc.