Form 16: Form-16A is issued for TDS deducted on payments other than salaries, such as income from recurring deposits, fixed deposits, etc.
18 Mar, 2024
Anirudha Yerunkar
Bank Account Details: It is mandatory to provide details of all active bank accounts in the ITR. You are required to provide details such as your bank name, account number, IFSC, account type and the number of account that you hold.
Investment Proofs: Tax savings investment and expenditure proofs such as receipt of life insurance premium paid, medical insurance receipt, Public Provident Fund passbook, fixed deposit receipt, home loan repayment certificate/receipt, etc.
Interest paid on housing loan: Interest on a housing loan is eligible for tax saving up to Rs 2,00,000. This is for a self-occupied house. For let out or deemed let out property, there is no limit of interest on housing loan.
Rental Income: If you are earning an income from your house or property, it should be reported while filing ITR. Also, in case you are paying rent, don't forget to collect receipts from the landlord.
The statement of donation in Form 10BD and the certificate of donation in Form no. 10BE for the financial year 2023-24 are also due.
PAN Card: PAN is not only required to file your returns but also to deduct TDS and should be linked with your bank account for direct credit of income tax refund (if any).
Bank Statement/Passbook: Bank account statements/passbook is required at the time ITR filing to know interest earned on savings account, interest income on fixed deposits, etc.
Form 26AS and AIS/TIS: It is an annual tax statement like a tax passbook that has details of all the taxes you have deposited against your PAN. These include: TDS deducted by the bank, by employer, by other organizations from the payments done by you.