Documents Required to File Income Tax Return in India

Filing your Income Tax Return (ITR) can seem overwhelming, but having the right documents makes the process hassle-free. Whether you’re a salaried employee, a business owner, or have income from investments, knowing what’s required saves time and ensures accurate filing.

This guide explains the mandatory documents, income-specific proofs, and deduction-related paperwork you need to file your ITR in India. You’ll also learn tips to avoid common mistakes and penalties.

To start your ITR filing process, ensure these essential documents are ready:

1. PAN Card

   • The Permanent Account Number (PAN) is vital for tax-related transactions.

   • It’s mandatory for filing ITR.

   • If linked to your Aadhar, you can use your Aadhar for filing instead.

2. Aadhar Card

   • Aadhar is required for verifying your tax return.

   • Linking PAN and Aadhar is now mandatory to process ITRs.

3. Form 26AS

   • This annual tax statement summarizes all TDS (Tax Deducted at Source) against your PAN.

   • It’s important for reconciling taxes paid and ensuring proper tax credits.

4. Bank Account Details

   • You must provide details of all active bank accounts.

   • Include one account for receiving refunds.

Depending on your income source, you’ll need additional documentation.

For Salaried Individuals

1. Form 16

   • Issued by your employer, this form details your salary and TDS deductions.

   • Use it to verify income and deductions accurately.

2. Salary Slips

   • These help calculate taxable income, including allowances like HRA or bonuses.

   • Submit proofs for claiming exemptions like HRA or Leave Travel Allowance (LTA).

      

For Business Income

1. Profit and Loss Statement

   • Summarizes your business’s income and expenses for the financial year.

2. Balance Sheet

   • Provides a snapshot of assets and liabilities, essential for tax calculation.

3. Audit Report

   • Required if your business turnover exceeds ₹1 crore (₹50 lakh for professionals).

      

For Income from Other Sources

1. Interest Certificates

   • Collect these from banks or post offices to report interest income.

2. Capital Gains Documents

   • Include purchase/sale deeds and capital gain statements for stocks or property.

3. Dividend Warrants

   • Dividends up to ₹10 lakh are tax-free but must still be reported.

Claiming deductions can significantly reduce your taxable income. Ensure you have these proofs:

1. Home Loan Statements

   • Claim deductions on principal (Section 80C) and interest payments (Section 24).

2. Tax-Saving Investment Proofs

   • Submit receipts for investments in:

     • Public Provident Fund (PPF)

     • Equity-Linked Savings Scheme (ELSS)

     • National Pension Scheme (NPS)

3. Children’s Tuition Fee Receipts

   • Eligible for deductions under Section 80C.

4. Medical Insurance Premiums

   • Premiums paid for self, family, or parents qualify under Section 80D.

5. Donation Receipts

   • Donations to eligible organizations are deductible under Section 80G.

1. Reconcile with Form 26AS

   • Verify that all TDS reflects correctly under your PAN to avoid mismatches.

2. File Before the Deadline

   • Late filing can result in penalties of up to ₹10,000 under Section 234F.

3. Keep Records for Future Reference

   • Though ITR filing is now “annexure-less,” retain all documents for potential scrutiny.

4. Link PAN with Aadhar

   • Non-linking may render your PAN inoperative, preventing ITR processing.

The government has simplified tax filing through online platforms. Key advancements include:

1. Pre-Filled ITR Forms

   • Basic details like salary and TDS are auto-filled, reducing errors.

2. Income Tax Portal

   • Access Form 26AS, AIS (Annual Information Statement), and other tax-related documents digitally.

3. Aadhar e-Verification

   • E-verify your ITR instantly using an OTP sent to your Aadhar-linked mobile number.

1. Mismatched TDS Details

   • Always cross-check TDS entries in Form 26AS.

2. Ignoring All Income Sources

   • Report income from all sources, including savings account interest and dividends.

3. Claiming Unsubstantiated Deductions

   • Keep proofs ready for every deduction you claim.

4. Filing After the Due Date

   • Delays can lead to penalties and loss of certain exemptions.

Filing your Income Tax Return doesn’t have to be stressful. With proper documentation and attention to detail, you can file accurately and on time.

Remember: Staying compliant not only avoids penalties but also ensures you claim all legitimate deductions. Start gathering your documents today for a smooth tax filing experience.