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.
Following are the basic documents mandatory to file an ITR in India:
Following documents are required from taxpayer having salary/ pension 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.
When an individual sells any movable or immovable property a Capital Gain arises. It also includes the sale of shares and securities.
Following are the documents required to file the return if you are earning any income from Business and Profession during the year:
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.
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:
The basic list of documents required to file ITR is as follows:
PAN (Permanent Account Number)
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.).