Is it necessary to attach documents with I-T return?

Jun 14, 2018 | 5 months ago | Read Time: 3 minutes | By iKnowledge Team

Keep your Form-16, PAN copy, account summary and additional income documents ready while filing your tax return.

Tax Planning is the most essential and critical aspect of saving our earnings in the effortless way. To begin with, check your taxable income using an income tax calculator, find your investment and savings tools and lastly, file your Income Tax Returns on time. While filing your income tax returns, you don’t have to attach any documents because

 Income Tax returns are ‘annexure less’, which means you don’t have to attach any documents with your returns.

However, you do need a few documents while filing your IT return.  

1. Form-16

You will receive two documents from your employer if you are a salaried individual: Form 16A and Form 16B.

Form 16A contains your name, employer’s name, PAN details and the amount of tax deducted at source (TDS). It is basically a certificate of the amount of tax you have paid from your salary.

Form 16B has a breakup of your current salary and the tax deductions allowed under Section 80C of the Income Tax Act.

2. PAN card

You need to have a Permanent Account Number (PAN) card while filing your taxes. Get one made if you haven’t already. That’s because PAN card is essential for tax-filing.

3.Summary of bank accounts

You need this as proof of bank transactions carried out during the financial year.

4. Cancelled cheque

You need to give a cancelled cheque if you are claiming for a tax refund. Giving a cancelled cheque helps confirm your bank account. This eliminates any confusion when tax officials credit your tax refund. This way, they can straightaway transfer the amount to your account.

5. Additional income documents

If you have an additional source of income, you need to add these documents with your IT return:

  • Bank statements or passbooks to show income from interest on savings accounts, fixed deposits and recurring deposits if any.
  • TDS certificates by banks if you aren’t a salaried employee.
  • Form 26AS, an annual statement that shows all tax-related activity done through PAN.
  • Tax payment challans if you made any self-assessments or advance tax payments.
  • Stock-trading statement if you made traded in stocks during the year.
  • Documents related to investments (for tax exemptions), insurance policies, interest paid on home loans, education loan interest payments, loan payments, medical treatment of elderly parents, home loan payments, pension plans, equity-linked savings scheme (ELSS), mutual funds investments, children’s school fess and donations to charity.
  • Documents like acknowledgement slips, challan identification number, etc.

6. The right IT returns form

You need to find the right IT returns form.

  • Form No.:ITR-1 SAHAJ
  • For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income up to Rs.50 lakh
  • Form No.:ITR-2
  • For Individuals and HUFs not having income from profits and gains of business or profession
  • Form No.:ITR-3
  • For individuals and HUFs having income from profits and gains of business or profession
  • Form No.:ITR-4-Sugam
  • For Presumptive Income from Business & Profession
  • Form No.:ITR-5
  • For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7
  • Form No.:ITR-6
  • For Companies other than companies claiming exemption under section 11
  • Form No.:ITR-7
  • For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)

When to file returns?

Ensure you file your returns on time to ensure you are in compliance with the tax rules. The deadline is August 5 for individuals and October 31 for businessmen.

Advt. no.: IA/May 2018/4035


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