Documents required for finalization of ITR

The various documents required for ITR filing:

1. The appropriate ITR Form

2.  Aadhaar linked with PAN

3. For Salaried Employees:

• PAN
• Form-16 (it is issued by the employer)
• Monthly salary slips.

4. Interest Income related Documents required for ITR filing

• Bank statement/passbook for interest on savings account.
• Interest income statement for fixed deposiTS
• (TDS) Certificate (it is issued by banks).

5. Form 26AS (it is provided by the Income Tax Department)

6. Section 80C Investment Documents

Investment in PPF, NSC, ULIPS, ELSS and LIC comes in deduction under Section 80C. The maximum amount claimed under  section 80C is Rs 1.5 lakhs.

7. Other Expenses Deduction Documents

• Contribution to the Provident Fund.
• Children’s school tuition fees.
• Life/Health Insurance premium pay.
• Stamp-duty and Registration charges.
• Principal repayment on home loan.
• Mutual Funds investment.

8. Other Investment Documents required for ITR filing

• Interest paid on the housing loan.
• Education loan interest payments.
• Stock trading statement.

Hence, the taxpayers have to maintain the record of certificates and receipts of their transactions made in the annual year for the filing of income tax return and need to attach these with it. Also if it has been asked for the clarification of transactions mentioned in the return then the taxpayers has to submit all the proofs to the AO (Assessing Officer).