The individual needs to gather the specified documents for filing E-returns in India. There are minor requirements that are almost over-looked by the individuals, which may further cause problems in terms of delay or inconvenience in filing the income tax returns. So, to make e-filing of returns hassle- free and easy going concern the individual should go through the list of documents which are essential for e-filing returns.

 

The List of document is enumerated here below:-

For all the ITR forms an individual requires the PAN (Permanent Account Number), which is essential and integral part of Income tax returns.

Who needs to file ITR returns?

Every individual whose total income before allowing any deduction under Chapter VI-A of Income Tax Act, exceeds the specified amounts need to furnish his returns of Income.

Time Limit for filing

The last date for filing returns by the individuals is before July, 31^st, 2016. No supporting documents are required to be attached with the returns Forms applicable.

• Salaried Individual

The Salaried Individual needs to gather the following list of documents and details for file Income Tax Returns:

1. A copy of PAN Card of the individual.
2. Relevant bank account information of the individual.
3. TDS (Tax Deduction at source) if it applicable to the individual.
4. Tax payment challans (Self-assessment, advance tax).
5. Form 16/ salary Certificate received from the employer.

• House Property

 An assessee who owns a House Property or resides in a rented property, these are the list of documents and details required for filing Income Tax Returns:

1. Address of the Property (if owned or rented).
2. Details of the co-owners (if the property is owned).
3. Details and supporting documents of Rent Receipts.
4. Interest Certificate issued by bank for housing loan (if the property is owned).

• Capital Gain

An assessee who gains profit by sale of a capital assets such as stock, bonds or real estate etc, these are the list of documents and details required for filing Income Tax Returns:

1. Forms of Investment in Capital Gains Accounts Scheme.
2. Any form of re-investment made (Purchase deed required for claiming Capital Gains).
3. A detailed expenditure incurred on transfer.
4. All the documents which are required for cost of improvement on the property (if any form of improvement is done).
5. In case of other capital asset the cost of purchase, sale value and cost of improvement if any.
6. In case of trading in shares a stock statement is to be provided (specifying sale and purchase value of shares).
7. Sale and Purchase deed of the property including stamp valuation of the property (for land/building).

• Other Sources

An assessee needs to gather the following list of documents and details for file Income Tax Returns.

1. Any form of Interest on Dividend/warrant.
2. Income received from winning of lottery, horse races etc.
3. A Rent agreement for plant and machinery, building etc, (if given on rent).
4. Any accrued interest on NSC during the year.
5. An amount of interest received on certificates of Bonds.
6. An amount of interest received in PPF etc.
7. Bank Passbook/Statement or interest income certificate.

• Tax Savings Investments

An assessee needs to gather the following list of documents and details for file Income Tax Returns.

1. Any form of Life and Medical Insurance receipts.
2. A form of Fixed Deposits (it should be eligible for Section 80C).
3. A certificate of re-payment in regard to housing loan.
4. Any form of Tuition Fees (it should be eligible for Section 80C).
5. Any form of donation receipts (along with the PAN Card of the donee).
6. Any other form of tax savings investments receipt/proof.
7. Any form of deposit receipts for senior citizen saving scheme.

So, what are you waiting for? File your returns before the due date and stay hassle-free.

Visit us at Taxmantra.com-ITR filing, for support, query and feedback.