Income Tax Return – Documents Required: Form 16, 12 BA, 26 AS & More

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Income Tax Returns – Documents Required

Filling income tax returns (ITR) has always been a daunting task for many of us. But just having the required documents ready will make filling of your ITR form easy. Although income tax authorities don’t mandate submission of any proofs while filling the returns but when it comes to filling the details in the ITR form many details are required.

Remember, the last day to file your income tax return in India is 31st July for each assessment year.

Here’s the list of most important documents required for filling income tax return:

1) PAN Card: This is most important and everyone filling the IT return should enter it in the form.
2) Form 16: Every employer in India is required to issue Form 16 to all it’s employer. This includes nothing but the annual salary statement consisting of income earned and tax deducted in a financial year. Ideally, you should receive Form 16 before 31st May of the assessment year. If your employer fails to provide the form 16; you should send them a letter requesting the form and a copy the same to the assessing officer (Income tax authority of the related jurisdiction). There are cases, when a person changes more than 1 employer in a financial year. In such a scenario; you should get Form 16 from each of your employer.
3) Form 12BA: This is required; if taxpayers’ salary package includes perks.
4) Form 26AS: It provides details and status of the tax credit, which includes details of TDS deducted , advance tax/self assessment tax/regular assessment tax deposited by you.
5) Bank account statements: To ease the process of filling the returns; tax payer should keep summary of all bank accounts containing details of the interest earned, expenditures incurred in the year.

  • How to find interest earned in bank statement: View the “Income From Other Sources” column in your bank statement.
  • For the year 2013-2014, individual need not have to pay tax if the income is upto INR 2,00,000.

6) Medical and term insurance premium receipts.
7) Documents supporting investments in Public Provident Fund
8) Tax Saving Mutual Funds
9) Payment of principal and interest on home loan
10) Payment of interest on education loan
11) Donations to charitable trusts, tution fees and rent receipts
12) In case of property purchased in the assessment year; you would need home loan papers, property transaction (sale or purchase) the municipal tax receipts, records of payment details and receipts of stamp duty and registration fee paid, respectively.
13) Capital Gains: If you’ve made any capital gains, either short-term or long term, while transacting in capital assets such as property, gold, or equity instruments. Bills, documents and contract notes for assets sold during the year are needed as are the corresponding purchase papers.
14) Bank account number, MICR Code.

Note: Documents listed above may vary from person to person. Also read mistakes in income tax return to avoid

References:

Get details for the form 26AS from http://www.incometaxindia.gov.in/26ASTaxCreditStatement.asp

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2 thoughts on “Income Tax Return – Documents Required: Form 16, 12 BA, 26 AS & More

  1. My income tax deducted at source by Three employer. Can a present employer issue compiled form-16? what document I need from other employer? So that our present employer does not issue form-16.

    • Hello Jagseer, Thank you for posting your query, I would be glad to answer them. Here are the answers:

      1) Present employer cannot give you COMPILED form-16. It is the duty of an employer to provide form-16 to their employees every year for the period served with the company.

      2) From all your employers, you should get form-16 which contains income tax breakup.

      Hope this answers your query. Thanks.

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