ITR Filing 2024-25: These documents are necessary for ITR filing, prepare them first
ITR filing 2024-25: Your exact tax liability can be calculated accurately only with the help of all the documents.
ITR filing 2024-25: Your exact tax liability can be calculated accurately only with the help of all the documents. Even a single missing document can impact your annual tax liability. Filing an Income Tax Return (ITR) is an important task. Many preparations have to be done before filing it. All documents have to be collected. All taxpayers like employees, businessmen, etc. require documents to file income tax returns.
These records reflect the investments you made during the financial year and show your sources of income. Your tax liability can be calculated accurately in each document. Even a single missing document can impact your tax liability. The documents required to file ITR for the financial year 2023-24 (assessment year 2024-25) are mentioned below.
Aadhar card
While submitting your return, you are required to provide your Aadhaar card information under section 139AA of the Income Tax Act. If you have applied for Aadhaar but haven't received it yet, use the enrollment ID of your ITR. Your ITR can be verified online with an OTP by linking your PAN and Aadhaar.
PAN card
You must have a PAN to file an ITR. PAN card should be linked to your bank account. It is used for TDS deduction. After the recent change in rules, if you are not able to find your PAN card then you can file your ITR using your Aadhaar number.
Form 16A, 16B and 16C
These are the required forms for TDS on non-salary income (like deposits or real estate transactions). Banks and other deductors use Form 16A. But for real estate transactions and rental income, there are Form 16B and 16C. The company gives Form 16 to the employee.
Bank account information
In your ITR you have to include all your existing bank accounts, out of which one account will be fixed for tax return. To record the interest earned on savings accounts or FDs, one must have a bank statement or passbook.
Home loan information
Homeowners get rebates on both principal and interest for filing taxes. You must have the certificate of your home loan.
Tax saving tools
Keep documents of tax saving options like ELSS and FD (Fixed Deposit) with you.
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