A) For Salaried Employees
If you are a salaried employee, gather these documents to e-file your income tax returns. Go through this list to see the documents you’ll need to do your taxes.
- PAN Number
- Form-16 issued by your employer.
A) For Proprietorship/Business persons.
1. Documents related to interest income
- Bank statement/passbook for interest on savings/current account.
- Interest income statement for fixed deposits.
- TDS certificate issued by banks and others.
2. Form 26AS
Form 26AS is a summary of taxes deducted on your behalf and taxes paid by you. This is provided by the Income Tax Department.
It shows details of tax deducted on your behalf by deductors, details on tax deposited by taxpayers and tax refund received in the financial year. This form can be accessed from the I-T Department’s website.
3.Investments
Section 80C investment documents. Investment made under PPF, NSC, ULIPS, ELSS, LIC qualify for deductions under Section 80C.
5. Documents Required to Claim the Following Expenses as Deductions
Keep these documents at hand to claim the following expenses as deductions –
- Your contribution to Provident Fund
- Your children’s school tuition fees
- Life insurance premium payment
- Stamp-duty and registration charges
- Principal repayment on your home loan
- Equity Linked Savings Scheme/Mutual funds investment
- The maximum amount that can be claimed under Section 80C is Rs 1.5 lakhs.
6. Other Investment Documents
- Interest paid on housing loan: Interest on housing loan is eligible for tax saving upto Rs 2,00,000. This is for a self-occupied house. For let out or deemed let out property, there is no limit of interest on housing loan eligible for tax saving.
GET YOUR “ITR” FILED TODAY ( I.E BEFORE LAST DAY RUSH & TENSION)
15 Comments