ITR filing documents: 10 important documents you need to file your income tax return

ITR-1 form is the form used by most salaried taxpayers and comes prefilled with much of the information.

The last date to file income tax return (ITR) by individual taxpayers who are not subject to tax audit for the financial year 2022-23 (assessment year 2023-24) is July 31 unless extended by the government. To make the ITR filing process easier, it’s important to keep the necessary documents handy. Plus, it will ensure a smooth sail when you file your tax returns.

ITR-1 form is the form used by most salaried taxpayers and comes prefilled with much of the information.

Following is a list of all the documents that may be required while filing ITR for the FY 2022-23. Taxpayers can check each of these pointers and keep them ready if they are applicable.

1) Form-16

If you are a salaried person, this is one of the most important documents for you to file your ITR. It is a TDS (tax deducted at source) certificate given by an employer and provides the detailed break-up of the salary and the tax deducted on it.

Also Read: Know the difference between AIS and Form 26AS before filing your income tax return

Tax experts say it is mandatory for your employer to issue Form-16 if your employer has deducted TDS from your salary. The taxpayers can use the details from the Form 16 while filing their tax returns manually. If no TDS is deducted from your salary, then you can ask for Form 16 from your employer.

Form 16 has two parts: Part-A and Part-B.

Part-A provides details such as: the tax deducted by your employer during the year; your Permanent Account Number (PAN); PAN and TAN of your employer.

Part-B gives information about your gross salary break-up details such as exempt allowances, perquisites and so on.

2) Bank/Post Office Interest Certificates

As per income tax rules, interest received from savings bank account, post office savings account, fixed deposits and recurring deposits are taxable. You have to provide break-up of the interest income received from different sources. It is, therefore, vital to collect interest certificates from the banks and post office to know the total amount received by you during the fiscal year on savings accounts and multiple fixed deposits.

Also Read: ITR filing mistakes: Common errors to avoid while filing income tax return for FY 2022-23

3) Form-16A and Other TDS Certificates

Salaried individuals should collect other TDS certificates that are applicable to him/her. If interest earned on fixed deposits in a financial year is more than Rs 40,000/Rs 50,000 (for senior citizens), then the bank will deduct tax on it. Also, bank will be required to issue Form 16A to the individual for the tax deducted. Mutual funds and companies will issue you Form 16A for the tax deducted on the dividends paid during the fiscal year, provided it exceeds Rs 5,000.

Likewise, individuals receiving monthly rent of Rs 50,000 or more from house, should get Form 16C (TDS certificate) from their tenant.

Individuals who sold land, property should ask their buyer to furnish Form 16B for tax deducted on the amount. TDS is must if the property is sold for more than Rs 50 lakh.

4) Annual Information Statement (AIS)

In 2021, the tax department unveiled the Annual Information Statement (AIS). It contains details of all the financial transactions conducted by an individual in a particular financial year.

You must download and verify the financial transactions from AIS to ensure that all the incomes declared in the statement are reported in the ITR form as applicable to you.

Also Read: Things to bear in mind when filing taxes

5) Form 26AS

Tax experts say you individuals must download Form 26AS from the new income tax portal as it like a tax passbook that provides details of the taxes deducted and deposited against your PAN.

Individuals must cross-check the details available in Form 26AS with the information available in TDS certificates, interest certificates because it may happen that TDS deducted is not showing in your Form 26AS due to incorrect PAN and wrong assessment year.

6) Tax-saving Investment, Expenditure Proofs

Individuals must gather tax-savings investment and expenditure proofs to claim deduction while filing the tax returns. It is important to note that an individual can claim tax-saving investments and expenditures if they have selected the old tax regime at the time of filing ITR.

7) Capital Gains 

Long-term gains on investments such as shares, debentures and property more than Rs 1 lakh per annum are considered capital gains. These are taxable, and the tax rate depends upon the type of investment and the returns on it. It is mandatory to obtain the details of long-term investments in the ITR.

8) Details of Foreign Assets

Individuals must ensure that all the assets they hold in any foreign country, including bank accounts, property and so on are mentioned in the ITR.

9) Aadhaar number

As per section 139AA of the Income-tax Act, 1961, an individual is required to mention his/her Aadhaar number while filing ITR. For instance, if you don't have your Aadhaar number yet but have applied for it, then you would be required to mention your enrolment ID in the ITR form.

More importantly, Aadhaar number also helps to e-verify your ITR form provided your mobile number is registered in the Aadhaar card database.

10)  Bank Account Details

It is must to give details of the bank account(s) held by you. Even if you have closed your account during the fiscal year, you will have to report it in your ITR. You are required to mention your bank name, account number, account type and IFS code.