ITR 2024: Mandatory and Optional, Keep These Documents For Income Tax Return Filing, Check Full List

Income Tax Return (ITR) filing is a critical responsibility for taxpayers and carries several significant implications. By understanding the importance of ITR filing and maintaining readiness with the necessary documents, taxpayers can ensure compliance, maximise benefits, and maintain financial health.

Having all your income sources, deductions, and tax payments documented makes filing your ITR faster and more accurate.

While you don’t necessarily need to attach documents while filing your ITR in India, having them ready is crucial for several reasons.

Here’s what you’ll need to keep handy:

Mandatory Documents:

• PAN Card: Permanent Account Number is essential for filing any ITR.
• Aadhaar Card: Linking your Aadhaar with PAN is mandatory for filing ITR.

Income Proofs:

• Form 16: Provided by your employer, it details your salary income, TDS (Tax Deducted at Source) etc.
• Form 16A/16B/16C: These forms reflect TDS on other income sources like interest income.
• Bank Statements: For all your bank accounts to track interest income and other transactions.

Investment Proofs:

Documents for investments like Provident Fund (PF), Public Provident Fund (PPF), Equity Linked Savings Scheme (ELSS), Life Insurance premiums, Health Insurance premiums, Fixed Deposits etc., if claiming deductions.

Other Potential Documents:

• Property Documents (if applicable)
• House Rent Receipts (if claiming HRA deduction)

Informational Documents:

Form 26AS (Annual Information Statement): This pre-filled statement by the Income Tax department shows various details including tax deducted/collected at source, advance tax/self-assessment tax paid.

The specific documents you’ll need depend on your income sources and deductions claimed. It’s always best to consult a tax advisor for personalised guidance.

ITR Filing Last Date 2024

Section 139(1) of the Income Tax Act requires every taxpayer to file their return of income by the prescribed due date, which can be 31st July, 31st October, or 30th November of the relevant assessment year, depending on the specific circumstances.