Income tax department
The Central Board of Direct Taxes has increased the last date of filing ITR from 31 July to 15 September, giving relief to taxpayers this time. Time remains at the last date. If you want to file tax returns ahead of time, then you should have some important documents. Without them, you may have difficulty in filing ITR.
Form 16
The most important document to file ITR is Form 16, which you get from your employer. It contains all the information related to your total salary, deducted TDS, and tax. This ensures whether the data filled on the tax portal is correct or not.
Form 16A, 16B, 16C, and 16D
Form 16A applies to interest of fixed deposits or income from insurance commission. If you buy immovable property worth more than Rs 50 lakh, the buyer has to cut the TDS for the seller, after which the form 16B is released. Similarly, if the monthly fare is more than Rs 50,000, the tenant gives Form 16C to the landlord, which contains information about TDS. These forms help track the income made from various sources and file ITR correctly.
AIS, TIS and Form 26AS
These documents are the basis of your tax record. Form 26AS has details of TDS and TCS. The AIS includes information related to bank interest, FD, and shares, while TIS has a summary of AIS information. All these documents are available on the official website of income tax.
Capital gain statement
If you have sold share, mutual funds or property, then it is mandatory to give information about capital gains. Take a capital gain statement from your broker or fund house.
Bank statement and interest certificate
A certificate of interest received from the bank or post office scheme is necessary, because it is mandatory to show this income in ITR. It also helps in catching the untouched information in AIS or Form 26AS.
Foreign income or unlisted share
If you have a share of foreign company or a bank account abroad, then it is necessary to give information about it, even if your total income exemption is less than the limit. For unlisted shares of Indian companies, the company’s name and number of shares will have to be given complete details.