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Published May 29 2024

Preparing for ITR filing: 13 documents you should have ready

By Bhagyashree Vaswani

PAN Card

PAN stands for Permanent Account Number. It's a 10-digit alphanumeric number issued by the Indian Income Tax Department to taxpayers.

Aadhar Card

An Aadhaar card is a 12-digit identification number issued by the Unique Identification Authority of India (UIDAI) to residents of India 

Linking PAN and Aadhar verifies your income tax return online through an OTP.

Form 16

This form consists of the details of the employee's salary and the amount of TDS deducted from the salary.

Form-16A/ Form-16B/ Form- 16C

For TDS deducted on payments other than salaries, such as income from fixed deposits, recurrent deposits, etc., Form-16A is issued.

When someone sells their property, Form-16B is provided. It contains information on TDS withheld from the buyer's payment to the seller.

A TDS certificate, Form 16C, certifies the TDS that a person or HUF is required to deduct from rent at the rate of 5% under section 194IB.

Bank Account Details

The income return must include information about your bank accounts, such as the name of the bank, account number, IFSC, and total number of accounts you have.

Bank Statement/ Passbook

Bank statements provide details on the interest received during a fiscal year on savings accounts, revenue from fixed deposits, and other investments.

Form 26AS and AIS/TIS

It is an annual tax statement that contains information on all the taxes you have submitted against your PAN, much like a tax passbook.

Home Loan Statement

Information such as like principal and interest from your loan statement  is needed

Tax Saving Instruments

The necessary paperwork should be ready when you file your taxes if you have invested in any tax-saving plans, such as tax-saving FDs, ELSS, investment receipts, etc.

Capital Gains Details

Documents like broker statements, property sale deeds, etc.

Rental Income

If you are earning an income from your house or property, it should be reported while filing ITR.

Foreign Income

To help you claim the benefit of tax credits and  DTAA, you should provide your tax adviser with the documentation for any income received in or from a foreign nation.

Dividend Income

When submitting your income tax return, you should disclose any dividend income you have received from shares or mutual funds that you have invested in.