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Income Tax Return Filing

Income Tax Return Filing

As per Section 139(1) of Income Tax Act, 1961 a) Companies & Firm:-Every Company & Partnership Firm should (MUST) furnish Return of Income in respect of its income or loss for every previous year. b) Others:– Every other person being Individual or HUF or an AOP or BOI or Artificial Judicial Person, where the Total Income of any other person in respect of which he is assessable under the Act during the previous year, without giving the effect of Sec. 10A/10AA/10B/10BA or Chapter VI-A exceeds the max amount not chargeable to Income Tax, should also furnish a Return of Income.

Document for Income Tax Return Filing

  • GENERAL DOCUMENTS FIR NCOME TAX RETURNS
  • PAN Card
  • Aadhaar
  • All Bank account information
  • TDS certificates (if applicable)
  • Tax payment challans (Self-Assessment Tax, Advance Tax) where applicable
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  • DOCUMENTS IN CASE OF SALARY INCOME
  • Form 16 or Salary certificate received from the employer
  • Pension Certificate ( if applicable)
  • Details of salary arrears (if applicable)
  • Full and Final settlement statement (in case of a job change)
  • Rent agreement and Rent Receipts (if not considered by the employer)
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  • DOCUMENTS REQUIRED FOR BUSINESS AND PROFESSION & FREELANCER
  • If You Are Earning Any Income From Business And Profession During The Year, Than Following Are The Documents Required To File Return
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  • Profit & Loss statement (if applicable)
  • Balance Sheet (if applicable)
  • Books of accounts (if applicable)
  • Bank account statement/passbook
  • Supporting documents for expenses incurred
  • TDS certificate/Form 16A
  • GST Return For the Financial Year (if applicable)
  • Registration certificate (if applicable)
  • Sales register or details of all sales during the year (if applicable)
  • Purchase register or details of all purchases (including capital asset) during the year
  • Details of income other than business income (capital gain, salary, rent, interest, etc.)
  • Details of all expense relating to business
  • Details of all your tax saving investments
  • Cash register
  • Any other documents required to maintain the books of accounts of business & profession
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  • DOCUMENTS REQUIRED IN CASE OF HOUSE PROPERTY
  • Rent Agreement or Rent Received from House Property
  • Possession Letter
  • Municipal Taxes Receipt
  • Housing Loan Interest Certificates
  • Details of Tax Deduction/Form 16A on rent
  • Details of pre-construction interest paid
  • Ownership Details
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  • DOCUMENTS IN CASE CAPITAL GAINS INCOME
  • You are required to mention the details of long term or short term capital gain, whichever applicable while filing your ITR. It is important to mention the long-term capital gains even if it is not taxable for equity mutual funds and shares.
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  • For land/building – Sales & Purchase deeds, stamp duty valuation
  • Documents for the cost of an improvement on the property (if improvement is made)
  • For securities – Contract notes/stock ledgers/trading statement
  • For other capital assets – Cost of purchase, cost of improvement & sales receipts
  • Details of expenses incurred on transfer of capital assets
  • Re-investment purchase deed for claiming exemption from Capital Gains
  • Capital gains deposit account details if any
  • DOCUMENTS IN CASE OF INCOME FROM OTHER SOURCES
  • Bank statement/passbook for interest on savings account.
  • PPF passbook for interest
  • Interest income statement for fixed deposits or Recurring deposits
  • TDS certificate issued by banks and others
  • Dividend warrants/ amount (if applicable)
  • Interest certificates on bonds
  • Exempt income
  • Income from Family pension
  • Details of accrued interest on NSC during the year
  • Receipts of any income from winning the lottery, horse races, etc
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  • DEDUCTIONS:-
  • PPF account statement/passbook
  • Fixed deposit certificates/statements
  • Mutual fund NAV statements
  • ELSS/ULIP/NSC investment details
  • Life and medical insurance payment receipts
  • Preventive health checkup details
  • Pension fund/ National pension scheme statement
  • Repayment certificate for a housing loan, education loan (where applicable)
  • Education loan interest certificate/repayment statement (where applicable)
  • Deposit receipts for Senior Citizen Saving Scheme
  • Tuition fees receipts
  • Donation receipts ((along with PAN, name and address of the donor)
  • Certificate from specified medical authorities in case of disability
  • Receipts/proof of any other tax saving investment/contributions
  •  Any other tax saving investment receipts/ proofs
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