ITR Filing Documents required: Filing income tax returns in a hurry increases the chances of mistakes. This happens when the taxpayer tries to file the return at the last moment. Experts say that the last date for filing income tax returns is already fixed.
Then why wait for the last moment to file the return? It is beneficial for taxpayers to file the return before the deadline. Let us know what documents will be required to file the return and how to download them.
Form-16 is most important for salaried taxpayers
Form- 16 is most important for salaried taxpayers to file income tax returns. Companies issue Form-16 to their employees after the financial year is over. It contains information about the employee’s gross income, taxable income and TDS deducted from salary in the financial year . Employers have issued Form-16 to employees. It can be downloaded from the Employee Self Service (ESS) website. The finance department of companies gives complete information about this by sending mail to the employees.
Also Read: Budget 2024: Government may raise tax free income to rs 5 lakh. Report
Information about every transaction will be available in AIS
The second important document for filing returns is the Annual Information Statement (AIS). It is a record of the financial transactions of taxpayers in the financial year. It includes TDS, TCS, interest income, dividend income and transactions related to shares and mutual funds. You can match the TDS given in it with the TDS of Form-16. If there is any difference in both the information, then you can correct it. By doing this, you will get the correct amount of TDS. This will eliminate the possibility of your return being defective.
This is how you can download AIS
To download AIS, you have to log in to the Income Tax Department website. If you are already registered, you can log in with your user ID and password. Your PAN will be your ID. If you are not already registered, you can register with the help of PAN. After logging in, you will see the ‘Annual Information Statement’ menu on the dashboard. Select it. Click on the ‘e-file’ menu. After that go to Income Tax Return and select ‘View AIS’.
After clicking on ‘AIS’, you will see a separate AIS portal. After that you have to click on the ‘Proceed’ button. On the home page of AIS, you will get the option of AIS of many financial years. You can download it by selecting the relevant financial year. If you want, you can also download Form 26. It will have information about your TDS and TCS. You can match it with your Form 16. This also has to be downloaded from the portal of the Income Tax Department. You can download it by logging in with your user ID and password.
