Documents needed for income tax filing India

Documents needed for income tax filing India

Documents needed for income tax filing India

Income tax filing India

Generally monthly income tax payers can fill the income tax form and file it immediately if there are many important documents while filing income tax. In this article we will look in detail at what documents are demanded for Income tax file India  and what they’re used for.


  • This Form 16 is a DTS certificate which states how much the office where you work has paid you and how much tax has been imposed on you.
  • The varied data mentioned in this form will be arbitrarily echoed in the profit duty Form as it is. So, make sure the details in the form are 100& correct. In particular, check for yourself the income statement mentioned in Part B.
  • Similarly, if an individual earns more than Rs. 40,000 (over Rs. 50,000 if he is a senior citizen) during a fiscal time, DTS interest will be subtracted from the quantum. These DTS preferred details will be mentioned on Form 16A.
  • Get everything you need to get this all-DTS certificate. Similarly, if an individual has bought or sold his land or house for more than Rs.1000.
  • In the last financial year 2021-22, it was sold for Rs 50 lakh or more. Therefore, the buyer of the house will have to fill up Form 16B and give it to the seller.

Read also:India income tax 2022 complete guide

Certificates of interest income

  • Interest income from savings account, fixed deposit, etc. is also subject to income tax for income tax filing in India Buy and keep up revenue statements, likewise comprehended as bank statements, postal statements and profit statements, from all fiscal institutions that invest from a bank account.
  • They also ask for details of where and how much interest income is on the new income tax form. So these certificates will help you to fill it.

Reimbursement Certificate

  • If you have taken a home loan, the bank or financial institution from which you have taken the loan will give you a repayment certificate stating the amount you have paid in principal and how much interest are you in last 2-3 financial year.
  • Using it, a person can get tax deduction of up to two lakh rupees per financial year under Section 24 of the Income Tax Return(ITR) in India Act on the interest paid on a home loan.
  • Similarly, a deduction of up to Rs 1.5 lakh per annum can be made on the principal repayment of home loan under Section 80C.
  • Students who have taken education loan are entitled to tax deduction under section 80E only for interest on repayment of student loan. Therefore, a prepayment instrument is needed for home loan & education loan.

Annual Information Statement

  • Income Tax Department under Government of India launched ‘Annual Information Statement’ service in November 2021.
  • It includes all the details like interest income, dividend income, stock market transactions, mutual fund transactions, forex transactions etc.
  • That a separate entered during a financial time. If there is any transaction that you have not done, contact your Chartered Accountant and inform the Income Tax Department duly.
  • Make sure you include all of the trades and returns that you have likely made in your income duty return.

Read also: What is gst in India complete guide 

Capital Gains Tax

  • If you make a profit by selling investments such as stocks, bonds, mutual funds, etc., you have to pay short-term capital gains tax or long-term capital gains tax.
  • These details can be carried from the Capital profit Statement issued by stock request brokers and multiple fund companies.
  • Nevertheless, approach your chartered accountant and ask for details of how major duty you have to pay
  • If you have made a profit dealing property similar as a house or land. on it and pay it properly.
  • Still, be sure to include that in your income tax filing India return as well, if you make a profit from cryptocurrencies alike as Bitcoin in financial time 2021- 22.

Unlisted stock investments

  • Many big names companies not listed on the Indian Stock Exchange till date. If you have made any investment in the shares of corresponding companies don’t fail to mention it in the income duty form.
  • Keep the source number and bank account details handy. You can elect to compensate any bank account income duty re-fund.
  • But don’t forgot to mention all the bank accounts in your name on the income duty form. This includes the bank account rightly authored to the bank in the fiscal time 2021- 22 and closed.

Read also: How to open post office ppf account?

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