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What Documents Are Required for Income Tax Return Filing for Individual?

Income tax return filing is required for every individual, company, partnership firm, Trust and every other entity not covered above but earning money or making lose from in business. Loss making entity need to pay income tax return with the reason of forwarding loss to next year which is technically known as carry forward the loss. This loss will set off with the profit f the entity up to the next 8 years.

For online Income tax return filing can be done from the income tax portal directly. Before filing tax return online we need to have some documents with us. The lists of documents are as follow:

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PAN card: We need PAN card to register on income tax website. If we already register with tax return online website then we can directly login. We don’t need to register again for every financial year.

Bank StatementWe need bank statement in which we can check the interest amount credited in the bank. However bank interest from saving bank account upto 10000/- per annum is exempted under section 80TTA. All bank account is now connected with adhaar card and IT return online also connected with adhaar card. It’s better not to manipulate or hide any interest income from the department.

Interest certificateInterest certificate required from client if he is paying and housing loan or any other type of loans. Interest pay for housing loan is cover under section 24 is exempted up to Rs 2 lakh and installment paid is exempted under section 80C up to 1.5 lakh from 1st April 2018.

Donation receipts: Receipts of donation payment from the individual to any trust which are registered under section 80G are required.

Form 16 or 16A: If any TDS is deducted from any employer or any other person. Then they need to provide us Form 16. This form is to be matched with form 26AS available online in the tax return online login of every individual.

Adhaar cardAs per new instructions from income tax department every individual shall connect there adhaar card with the PAN card on the Online income tax return website.

While filing IT return online there are so many requirements to be followed and so many documents are required for getting information. Above all documents are only basic necessity and there may be change of documents for every person. For more information regarding income tax you can take help of Online CA for income tax return
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