ITR returns filing: what documents do you need?

ITR returns filing: what documents do you need?

ITR returns filing: what documents do you need?

Filing your tax returns is not only mandatory but also beneficial for your financial health. But in every income tax season if you find yourself confused and overwhelmed with the sheer amount of paperwork required, you are not alone. Every financial year, taxpayers everywhere, whether new to the process or experienced, find themselves struggling to remember what ITR filing documents are truly required. Read More

Well, you need not worry any longer as this essential list of documents is certain to guide you in your income tax return filing process for next year. Here are the primary and most important documents you must collect for your ITR returns filing:

  1. Form 16: The most essential form for all salaried employees, Form 16 is a Tax Deducted at Source, or TDS certificate. It will be provided by your employer and will contain a detailed account of your salary structure as well as the tax deducted on it. Form 16 is typically divided into two important parts - part A and part B. Part A contains details about you, the employee, as well as about your employer, and details about your employment. Part B contains details about your salary, deductions and payable tax amounts.

  2. Form 16A/Form 16B: Apart from salary derived from employment, you might also be earning an income from other sources such as investments and sale of property. The taxes deducted from both of these sources are addressed by Form 16A and Form 16B respectively, and are both also considered TDS certificates.

  3. Form 26AS: While the forms mentioned above gives details regarding the tax deducted from your different sources of income, Form 26AS is the ultimate annual tax statement for you. This form is provided by the Income Tax Department and mentions all the taxes deducted on your behalf, such as by your employer, banks or other organisations, as well as the taxes paid by you.

  4. Aadhaar Card: One of the most important documents required for ITR filing is, of course, your Aadhaar card. According to Section 139AA of the Income Tax Act, it is mandatory that you provide your Aadhaar details while filing for income taxes. Keep in mind that during the e-verification process for your income tax return filing, the One Time Password for the process is directly sent to the number registered with your Aadhaar card making it much more convenient.

  5. Interest Certificates: Your overall income also takes into account the interests being earned by you through fixed deposits, recurring deposits and savings accounts. The interests generated by them is considered as Income From Other Sources and is also taxable. As a result, you must procure interest certificates from relevant banks or post offices and include them in your ITR filing documents.

  6. Proofs for tax-saving investments: In order to reduce your tax burden, there are various tax saving investment options in the market that you can easily avail. In order to enjoy their tax benefits, however, you must include proofs of these investments in your income tax return filing. The most common types of tax saving investments help you avail deductions under Section 80C and include schemes such as PPF, EPF, ELSS and NPS. What’s more, you can also avail tax deductions on the premiums that contribute towards your life insurance and term insurance coverage and safeguard your family’s future. Browse the website to know more about Term Insurance and the various Term Plans offered by PNB MetLife.

  7. Capital gains: It is possible that during the past financial year, you made certain capital gains from the sale of property or mutual funds owned by you. In such a case, your income tax return filing must make proper mentions of these capital gains. In the case of sale of property, you must procure the purchase deed and sale deed and include them in your ITR filing documents. In the case of sale of mutual funds, simply include a capital gains statement from the broker or  fund house in question.


Now that you have this basic guide of documents, you are on the right track to acing your income tax returns filing for the financial year to come. Also, while this list is perfect to get you started, make sure to do ample research and seek any additional documents that might be applicable to your specific need.

*Tax benefits are subject to conditions and other provisions of the Indian tax laws and are subject to amendments made thereto from time to time.

Disclaimer: 
This list of document for filing the tax returns is only for illustrative purpose and the user will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before proceeding for filing of the tax returns. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.

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