Keep these documents ready before filing ITR

New Delhi: The time has come to file Income Tax Return (Income Tax Return Filing 2024). All taxpayers will have to file their returns (Income Tax Return) before 31 July 2024. Often, while filing ITR, we look for the documents related to it. In such a situation, time is wasted and trouble is also created.

To save time and avoid hassles, taxpayers should keep all the necessary documents in one place before filing ITR. This will make the process of filing returns very easy and there will be no hassle while filing ITR.

One thing that the taxpayer should take special care of is that he should fill all the information correctly in the ITR. If any mistake is made, the ITR is rejected by the Income Tax Department. Let us tell you which documents you should keep ready while filing income tax return.

Form 16

Form 16 is very important while filing returns. Although Form 16 is issued by the company. But, if the taxpayer has changed jobs in the financial year, then he should get Form 16 from the old company before filing the return. Form 16 contains all the information about the taxpayer’s income along with the details of Tax Deduction at Source (TDS).

Before filing the return, the taxpayer must check whether all the information in Form-16 is correct or not.

Interest Certificate

We get interest on the amount deposited in the bank. If we have invested in FD or any other scheme, then we have to give information about the returns received on that to the Income Tax Department.

The best way to get all the details like interest and returns is through Interest Certificate. The Interest Certificate contains the details of the bank’s interest along with other interest rates.

If interest of up to Rs 10,000 is received annually on the saving account, then there is no tax on it.

Income Source

Many taxpayers earn income from many other sources along with their jobs. For income, they invest in many places like Mutual Funds or share market etc. Information about these investments also has to be given to the Income Tax Department.

While filing ITR, the taxpayer has to tell where he has invested and how much profit he has earned from there. If the taxpayer has received capital gain through investment, then its details also have to be given in ITR.

Housing Loan Certificate

If a taxpayer has taken any kind of loan, then he has to give its information to the department. If a taxpayer has taken a housing loan, then before filing the return, he must take the interest and capital repayment certificate on the housing loan from the bank or financial institution. With the help of this certificate, he can claim for tax deduction.

Annual Information Statement (AIS)

Annual Information Statement (AIS) is very important while filing income tax return. However, AIS is provided by the Income Tax Department. The taxpayer must check that the information given in ITR and AIS matches.

If there is any difference in this, then the ITR will be invalid and a notice (Income Tax Notice) can also come from the department. If there is a mismatch in the information given in ITR and AIS, then the taxpayer should immediately go to the Income Tax Department and get it corrected.