List of various documents required before e-filing returns online. Every taxpayer needs to collect the documents required for filing Income tax return. So, here is a list of the documents required for Salaried Individuals/Pensioners, Income from House Property, Tax Saving Deductions, Income from other sources and so on..
General Checklist and Pre-requisites:
- PAN card number.
- All active Bank account (except those not used in the last 3 years) information comprising of the Bank name, IFSC code, whether Savings/ Current/ Overdraft.
- TDS certificates: Form 16, Form 16A and/ or Form 16B.
- Tax payment challans for Advance tax, TDS or Self-Assessment tax: Challan 280, challan 281, challan 282, Form 26QB etc.
- When e-filing in response to an IT notice or rectification you will need particulars of original return or notice as specified.
- AADHAAR number or enrolment number in lieu.
- Balance sheets, Profit and Loss (P&L) statements, Audit and Account reports relevant to reporting income from business or profession as per the ITR form.
Salaried Individuals/ Pensioners:
- Form 16 received from employer.
- Statement of arrears, if one has been received.
Income from House Property:
- Address of property in question.
- Names, addresses and PANs of co-owners (if any).
- Interest payment receipts on Home Loans where applicable.
- Particulars of tenant where the income is earned from rent.
Income from Capital Gains:
- Sale/Purchase deed.
- Money spent, date and other particulars of improvements made.
Movables: Equity or debt securities
- Statement of all receipted transactions detailing values and dates
- Where other capital instruments are involved, date and cost of transaction including transfers.
Capital Gain Exemptions
- Particulars such as value and dates of capital investments in new assets in the last financial year
- Particulars of payments to the Capital Gains Accounts Scheme, typically date and value of transaction
Income from other sources
- Your Bank Passbook/Statement certificate of income from interest
- Provident Fund passbook to report interest;
- Dividend pay-out certificates
- Certificate of income from bonds
- National Savings Scheme interest earned statement for the last financial year
- Report of gifts whether expressible in money terms or not
- Contracts for renting plant and machinery or other property let out
- Particulars of any income from winnings of lottery, horse races etc.
Tax Saving Deductions:
- Medical and/or life insurance premium paid certificates
- Provident Fund passbook;
- Fixed Deposit income certificates (qualifies for section 80C);
- Repayment receipt if availed housing loan
- Deposit certificates in case of participation in Senior Citizen Savings Scheme, pension plans etc.
- Tuition fees statements;
- Receipts of donations made (give particulars of the donee such as name of trust, amount given, PAN, address) under Section 80G
- Other certificates/proof of investment for tax saving
- Interest payment receipt from bank for education loan
- Proof from Civil Medical Authority certifying prescribed diseases and disabilities
Particulars of foreign income/ assets:
- Salary slips if income earned while abroad
- Statements of foreign bank accounts if any
- Particulars of any foreign asset held including land or house, securities, stakes in a trust or institution and so on
This is your last chance to not file income tax returns. There is a penalty on non-compliance from FY 2017-18. E-file here.