Invest in Mutual funds via BLACK APP
(1200)
Looking for a business loan
Thank you for your interest, our team will get back to you shortly
Thank you for your response
Thank you for your response
Our representative will get in touch with you shortly.
31st July of the assessment year following the financial year is usually the last day to file your Income Tax Returns of any given financial year.
The process of filing your Income Tax Returns in India takes some preparation. This is why the Government usually gives you four months’ window period to compile all documents like salary/income details, bank statements, previous tax statements, etc. The procedure varies as per the income earned per year and income source like salary, business profit, investment profit and so on.
Collating all your documents ready is just one aspect of it. In this article, we will discuss in detail about the documents needed for filing Income Tax Returns in India.
Latest updates
Taxpayers have to choose the ITR form applicable to them. The income tax department has launched pre-filled ITR forms for AY 2021-22.
The last date of linking Aadhaar with PAN was 30th September 2021. In failure to do so, the PAN would become in-operative. Hence it will be mandatory to link PAN with Aadhaar to activate the PAN.
If you are a salaried employee, gather these documents to e-file your income tax returns in India. Go through this list to see the documents you’ll need to do your taxes.
From the AY 2019-20, it is essential to gather the information on all taxable allowances received and the amount claimed as exemption out of such allowances e.g., house rent allowance, leave travel allowance etc and disclose the same in the IT return.
Did you know that Form-16 is all you need to e-file your income tax returns on ClearTax? It’s that simple really. Got your Form-16? Start income tax e filing.
ClearTax automatically gives you a tax benefit as per Section 80TTA when you enter your income from savings account interest. You won’t need all the documents listed here as they vary on a case-by-case basis.
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. Learn how to access your Form 26AS.
Section 80C investment documents. The investment made under PPF, NSC, ULIPS, ELSS, LIC qualify for deductions under Section 80C. Make sure you have the slips, receipts of all the investment made for tax saving purpose. Also, these documents should be preserved for a couple of years for the safe side.
Keep these documents at hand to claim the following expenses as deductions :
Click here to see the detailed list of all the deductions available under Section 80. To know more about how to claim deductions against your home loan, Click here.
From FY 2017-18, the total loss from house property available for set off against other income is capped at Rs 2 lakhs and therefore, interest on housing loan is eligible for tax saving up to Rs 2,00,000 for let out a property as well.
The income tax return you file is an ‘annexure less’ return, i.e. no documents or proofs are required to be attached with the returns. The Income Tax Act specifies obtaining certificates and proofs to claim deductions, which makes it ambiguous for the taxpayers as to whom they must hand over those certificates and proofs.
The taxpayers must preserve those certificates and receipts for future references and need not attach or send them to anyone. In case an assessing officer (AO) sends a notice asking for documents or clarification about the transactions mentioned in the returns, the taxpayer will have to submit the proofs to the AO.
Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.
Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.
CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.
Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.
ISO 27001
Data Center
SSL Certified Site
128-bit encryption
