The fixed date of July 31 for filing Income Tax Return (ITR) for Assessment Year 2024-25 i.e. Financial Year 2023-24 is fast approaching, before you go to the e-filing portal at www.incometax.gov.in, collect all the necessary documents to file ITR. The Income Tax Department has said that more than five crore taxpayers have already filed their returns.
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What documents are required to file income tax return?
- Bank TDS certificates
- Bank account details
- Aadhaar and PAN linked to 26AS and Annual Information Statement (AIS).
- Form-16 for salaried individuals
- Previously filed tax returns
- Salary slips including income earned from abroad, if applicable.
- Rent agreement and rent receipts for claiming HRA.
- Foreign bank account details if you went on deputation abroad.
- Transaction details of foreign investment.
- Form 67 if you are claiming credit of taxes paid in a country with which India has a Double Taxation Avoidance Treaty.
- Details of your assets and liabilities, including AL schedule, if your income is more than INR 50 lakh and you are filing return through ITR-1.
Documents required for deduction
For Section 80C and 80CCD (1B) deductions
Proof of investing in equity-linked savings schemes (ELSS).
National Pension System (NPS) contribution proof.
Premium receipts of life insurance premiums.
For Section 80D deduction: Health insurance receipt
For Section 80E deduction: Interest certificate from the bank that gave the education loan.
For Section 24B deduction: Interest certificate from your bank to claim deduction up to INR 2 lakh under Section 24(B).
For Section 80G deduction: Receipts of donations to eligible charitable institutions.
Also Read: Karnataka Man Devises Plan to Save 100% Income Tax- Watch Viral Video
Documents for income from sources
Capital gain/loss statement issued by mutual fund houses or intermediaries, stock brokers, etc.
Bank account details and TDS certificate.
Virtual Digital Assets (VDA) transaction statement, especially the VDA schedule.