10 documents taxpayer needs to file income tax returns

  • June 10, 2022
  • CA Chandan Agarwal's Office

The income tax department is offering pre-filled ITR forms. Individuals can file ITR either online (without downloading any form/utility) or offline (downloading form/utility and then uploading it on the new income tax portal).

The income tax department has been making efforts to improve the process of filing income tax return (ITR) easier. This is being done by offering pre-filled ITR forms. Individuals can file ITR either online (without downloading any form/utility) or offline (downloading form/utility and then uploading it on the new income tax portal).
Here is the list of documents that you must keep handy while filing your ITR this year

1. Form-16
Form 16 is a TDS certificate issued to you by your employer providing details of the salary paid, taxes deducted and deposited during the financial year. It is mandatory for an employer to issue Form 16 if taxes have been deducted by him/her. The last date of issuing Form 16 by an employer is June 15 (unless extended by the government).

Form 16 consists of two parts: Part A and Part B. Both the parts must be downloaded from the TRACES portal of the income-tax department

The information pre-filled in the ITR forms under the head ‘Income from Salary’ is in sync with the information available in part-B of Form-16

2. Form 16A and other TDS certificates
Apart from Form 16, individuals must also collect other TDS certificates that are applicable to him/her. If interest earned on fixed deposits in FY 2021-22 exceeds Rs 40,000/Rs 50,000 (for senior citizens), then the bank will deduct tax on it. Further, 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 FY 2 ..

Read more at:
https://economictimes.indiatimes.com/wealth/tax/10-documents-taxpayer-needs-to-file-income-tax-returns/articleshow/91909537.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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