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What are the Documents Needed for Filing Income Tax Returns in India?

As citizens of India, we all are duty-bound to pay our taxes. For all those who have incomes above a certain limit, there are tax slabs outlined by the government. The income of all taxpayers is taxed at different slabs, depending on the overall taxable amount. At the end of every financial year, taxpayers are required to file their Income Tax Return (ITR). Read on to find out more about the list of documents required at the time of filing ITR.

What is Income Tax Return (ITR)?

​Income Tax Return (ITR) is a form that every taxpayer has to file at the end of each financial year. In this form, the details of the income earned by an individual in a financial year and taxes paid on such income are communicated to the Tax Department. It also allows carry-forward of loss and claim refund from the I-T department.​ Depending on one’s status and nature of income, different forms of returns of income are prescribed for filing ITR. These forms can be downloaded from the official website of the Income Tax Department.

List of documents required for ITR filing:

1. Form 16- for salaried, proof of TDS deducted/paid

2. Documents showing interest income

3. Form 16A/16B/16C/16D

4. Form 26AS

5. Proof of tax-saving investments

6. Proofs to claim deductions under 80D to 80U

7. Home loan statement

8. Capital gains

9. Aadhaar Card

10. Salary slips

Ways to file ITR:

You can file your ITR either offline or online. The two ways in which you can file your return on income have been detailed below.

1. OFFLINE

Download the applicable ITR, fill the form offline, save the generated XML file and then upload it.

To e-File the ITR using the upload XML method, the user must download either of the Excel Utility or the Java Utility. Then, follow these steps to download either of the ITR utility and then to generate and upload the XML:

  • Go to the Income Tax e-Filing portal (www.incometaxindiaefiling.gov.in)
  • Download the Appropriate ITR utility under 'Downloads > IT Return Preparation Software'
  • Extract the downloaded utility ZIP file and Open the Utility from the extracted folder
  • Fill the applicable and mandatory fields of the ITR form
  • Validate all the tabs of the ITR form and Calculate the Tax
  • Generate and Save the XML
  • Login to e-filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'
  • Click on the 'e-File' menu and click 'Income Tax Return' link
  • On Income Tax Return Page:

-PAN will be auto-populated

-Select 'Assessment Year'

-Select 'ITR form Number'

-Select 'Filing Type' as 'Original/Revised Return'

-Select 'Submission Mode' as 'Upload XML'

  • Choose any one of the options available to verify the ITR
  • Click 'Continue'
  • Attach the ITR XML file
  • Submit the ITR
  • To view the uploaded ITRs

2. ONLINE

Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online.

  • Go to the Income Tax e-Filing portal
  • Login to e-Filing portal by entering user ID (PAN), Password, Captcha code and click 'Login'
  • Click on the 'e-File' menu and click 'Income Tax Return' link
  • On Income Tax Return Page:

-PAN will be auto-populated

-Select 'Assessment Year'

-Select 'ITR Form Number'

-Select 'Filing Type' as 'Original/Revised Return'

-Select 'Submission Mode' as 'Prepare and Submit Online'

  • Click on 'Continue'
  • Read the Instructions carefully and Fill all the applicable and mandatory fields of the Online ITR Form
  • Choose the appropriate Verification option in the 'Taxes Paid and Verification' tab
  • Click on 'Preview and Submit' button, verify all the data entered in the ITR.
  • 'Submit' the ITR.

Why do I have to file my returns?

Every individual who is a citizen and resident of India is duty-bound to honestly pay their taxes to contribute towards the growth and development of the nation. Additionally, having your ITR is always a good idea as it validates a person’s credit-worthiness before financial institutions, thus making it possible for one to access a host of financial services like loans, credit, etc.

Disclaimer :ICICI Securities Ltd.( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. Please note, filing of tax related services are not Exchange traded products and I-Sec is acting as a distributor to solicit these products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. The content is solely for informational and educational purpose. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.

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