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Is Filing Your IT Return a Pain? Well, One Aspect Solved. Date: February 1, 2016

In our journey of associating with people to help them out with a myriad of money management queries, the frequent ones have been related to maintenance of documents and submission of same while dealing with regulatory requirements.

Documentation

So, as a starter from our side we thought of compiling a quick list of documents that are required while filing your tax return. Take a stab at it:

1. PAN Number Verify it online with I.T department by going through this link : https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourPanLink.html
2. Form 16 – for Salaried  A statement issued by your employer which has details of your Salary, the taxable salary amount after various perks and allowances, the TDS deducted by your employer, the deductions you have claimed and the overall tax due.
3. Documents rcomeelated to Interest Income
  • Bank statement/passbook for interest on savings account.
  • Interest income statement for fixed deposits.
  • Debentures yielding interest
  • TDS certificate issued by banks and others, in case tax has been deducted on your interest income
4. Form 26AS It reflects all the Income Tax received by the I.T. Department with respect to you. This is a tax credit statement which shows TDS payments, voluntary tax payments made by you. Form 26AS should match all tour TDS certificates. Link to view Form 26AS : https://incometaxindiaefiling.gov.in/e-Filing/UserLogin/LoginHome.html?nextPage=taxCred
5. Sec 80C investment documents
  • Your contribution to PF, NSC, ELSS, ULIP, RGESS etc.
  • Your children’s school fees
  • Life insurance premium payment
  • Stamp-duty and registration charges
  • Principal repayment on your home loan

Maximum deduction can be claimed up to Rs. 1.5 lakh

6. Sec 80D Medical Documents ·   Premium receipt for medical insurance premium paid for self, family and dependent parents.
7. Sec 80G – Charitable donation statements ·   Receipt issue by the charitable organisation

·   Pan number of the charitable organisation

8. Interest paid on a housing loan Interest on housing loan is eligible for tax saving up to Rs 2.5 lakh. This is for a self-occupied house.
9. Stock Trading Statement The stock trades that were made during the year may attract Capital Gain tax.
10. If there is income residential property ·    Housing Loan repayment certificate

·    Municipal Corporation Tax Receipt

 

 

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