By Priyanka Sambhav
Income Tax returns are 100% paperless exercise. You have to file your return online and you don’t have to attach any paper to your return. But you definitely have to refer to a few papers to complete the return filing process. Here is list of papers that you must keep handy while filing your e-return.
Prepare these 6 documents in advance-
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Form 16
If you are a salaried person then you must keep your Form 16 ready. This is a form which is issued by your employer describing the tax deducted and also contains your salary details. Form 16 will have your salary details, your PAN number and employers Tax deduction account number i.e TAN of your employer.
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Form 26AS –
This is an annual consolidated tax statement issued by the Income Tax Department. Form 26AS has all the information regarding your tax deducted and even tax paid. Salaried consult this form to figure out if the deductor of TDS has submitted the tax correctly to the government or not. If you have paid any advance tax then this the form which will have those details. Apart from TDS, tax paid this form will also tell you if you are to receive any refund and will include the detail of any high-value transaction done by you.
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Tax saving Investment details
If you are claiming a deduction of 1.5 lakh under 80C deduction since you must have paid a life insurance premium or tuition fee or principal payment of your home loan. If you want to take benefit of section 80D then you must have bought health insurance. You should have all the documentation related to these investments with you.
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Interest certificate
You need to get an interest certificate from your bank where you hold your savings bank account. The interest earned on your savings bank account beyond 10,000 is taxable under Section 80TTA. If you are a senior citizen the interest of up to 50,000 is tax-free as per section 80TTB.
5. Home loan interest paid certificate
You must have your home loan statement with you if you have a home loan and you want to claim a deduction under section 24. You could take benefit of Rs 2 lakh on interest paid.
6. Capital gains
You have to report these gains in your ITR. You may have received capital gain by selling property, mutual funds or equity shares.
