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July 17, 2020

List of documents & Information required for filing Income Tax Returns in India

by Mahesh Mara in Income Tax

List of documents & Information required for filing Income Tax Returns in India

The process of filing Income Tax Return takes some preparation. This is why the Government gives us months’ of time window period to compile all documents like salary/income details, bank statements, previous tax statements, etc. The list of documents varies as per the income earned per year and income source like salary, business profit, investment profit and so on. Compiling all your documents ready is just one aspect of it. In this article, we will discuss about the list of documents needed for filing Income Tax Returns in India.

List of documents & Information required for filing Income Tax Returns in India
List of documents & Information required for filing Income Tax Returns in India

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I. Documents & Information required for ITR 1:

ITR 1 is applicable for resident individual earning following Income:

a. Salary

b. Pension income

c. Income from one house property and

d. Interest income from fixed deposit.

e. Agriculture income up to Rs. 5,000

ITR 1 is also known as Sahaj. In case of person filing ITR 1 the below documents are required:

  1. Aadhaar card copy
  2. Form 16 issued by employer
  3. Month wise salary slip where form 16 is not been issued by the employer
  4. Rent receipts in case of rental income and rental agreement
  5. Bank statement for the Financial year for interest on savings account
  6. Form 16A or Interest Statement issued by Banks for Fixed Deposit Interest Income.
  7. Chapter VIA Investment details for claiming deduction as follows:
  8. Receipt of children’s school tuition fees
  9. Life insurance premium receipt
  10. Stamp-duty and registration charges
  11. Principal repayment on your home loan
  12. Equity Linked Savings Scheme/Mutual funds investment
  13. Mediclaim payment receipt etc.
  14. Donation receipt in case of donation made to trust or organization referred under 80G

II. Documents & Information required for ITR 2:

ITR 2 is applicable for individual earning following Income:

a. Salary

b. Pension income

c. Income from more than one house property and

d. Interest income from fixed deposit.

e. Income from capital gain

f. Income from lottery or betting or race horses

g. Dividend Income of more than Rs. 10 lakhs

h. Person having loss from house property

In case of person filing ITR 2 the below documents are required:

  1. Aadhaar card copy
  2. Form 16 issued by employer
  3. Month wise salary slip where form 16 is not been issued by the employer
  4. Rent receipts in case of rental income and rental agreement
  5. Bank statement for the financial year for interest on savings account
  6. Form 16A or Interest Statement issued by Banks for Fixed Deposit Interest Income.
  7. In case of capital gains capital gain statement issued by the Share broker.
  8. Chapter VIA Investment details for claiming deduction as follows:
  9. Receipt of children’s school tuition fees
  10. Life insurance premium receipt
  11. Stamp-duty and registration charges
  12. Principal repayment on your home loan
  13. Equity Linked Savings Scheme/Mutual funds investment
  14. Mediclaim payment receipt etc.

III. Documents & Information required for ITR 3:

ITR – 3 can be used by an individual or a Hindu Undivided Family who is having income from profits and gains of business or profession or individual or HUF covered under section 44AB of the Income tax act i.e. tax audit. In case of person filing ITR 3 the below documents are required:

  1. Aadhaar card copy
  2. Form 16 issued by employer
  3. Month wise salary slip where form 16 is not been issued by the employer
  4. Rent receipts in case of rental income and rental agreement
  5. Bank statement for the financial year for interest on savings account
  6. Form 16A or Interest Statement issued by Banks for Fixed Deposit Interest Income.
  7. In case of capital gains, tax profit and loss or capital gain statement issued by the Share broker.
  8. Chapter VIA Investment details for claiming deduction as follows:
  9. Receipt of children’s school tuition fees
  10. Life insurance premium receipt
  11. Stamp-duty and registration charges
  12. Principal repayment on your home loan
  13. Equity Linked Savings Scheme/Mutual funds investment
  14. Mediclaim payment receipt etc.
  15. Profit and loss statement and Balancesheet for the previous year
  16. Details of Chartered Accountant conducting Tax audit in case the person is covered under section 44AB
  17. Copies of books of accounts required to be maintained as per section 44AB i.e. Cash book, Journal book, Sales and Purchase register in case of business and Receipt book in case of profession.

IV. Documents & Information required for ITR 4:

ITR – 4 can be used by an individual or a Hindu Undivided Family or Firm (excluding limited liability partnership firm) who is having income from profits and gains of business or profession or individual or HUF covered under section 44AD or 44AE in case of business or 44ADA in case of profession i.e. person opting for presumptive scheme of taxation. Person filing ITR 4 is not required to maintain books of account. In case of person filing ITR 4 the below documents are required:

  1. Form 16 issued by employer.
  2. Month wise salary slip where form 16 is not been issued by the employer
  3. Rent receipts in case of rental income and rental agreement
  4. Bank statement for the financial year for interest on savings account
  5. Form 16A or Interest Statement issued by Banks for Fixed Deposit Interest Income.
  6. Chapter VIA Investment details for claiming deduction as follows:
  7. Receipt of children’s school tuition fees
  8. Life insurance premium receipt
  9. Stamp-duty and registration charges
  10. Principal repayment on your home loan
  11. Equity Linked Savings Scheme/Mutual funds investment
  12. Mediclaim payment receipt etc.
  13. Detail of total turnover in case of business or total receipts in case of profession.

V. Documents & Information required for ITR 5:

ITR 5 can be used by a person being a firm, LLP, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. The following are the documents required to file ITR 5:

1. Details of all partners like Name of the partner, PAN of the partner, profit and loss sharing ratio of the partner and date of appointment of the partner

2. Profit and loss statement and Balancesheet for the previous year

3. Details of Chartered Accountant conducting Tax audit in case the firm is covered under section 44AB

4. Copies of books of accounts required to be maintained as per section 44AB i.e. Cash book, Journal book, Sales and Purchase register in case of business and Receipt book in case of profession.

VI. Documents & Information required for ITR 6:

​​​​​​​​ITR – 6 can be used by a company, other than a company claiming exemption under section 11 (charitable/religious trust can claim exemption under section 11​). The following are the documents required to file ITR 6:

1. Details of all Directors of the company like Name of the partner, PAN of the partner, profit and loss sharing ratio of the partner and date of appointment of the partner

2. Profit and loss statement and Balancesheet for the previous year

3. Details of Chartered Accountant conducting Tax audit in case the company is covered under section 44AB.

4. Copies of books of accounts required to be maintained as per section 44AB i.e. Cash book, Journal book, Sales and Purchase register in case of business and Receipt book in case of profession.

VII. Documents & Information required for ITR 7:

ITR – 7 can be used by Public or Private trust covered u/s 139(4A), Political Parties covered u/s 139(4B), Educational institution covered u/s 139(4C) and Business trust and Investment fund covered u/s 139(4D). The following are the documents required to file ITR 7:

1. Details of all Trustees like Name of the trustees and PAN of the trustees

2. Receipt and Payment statement and Balancesheet for the previous year

3. Details of Chartered Accountant conducting Tax audit in case the company is covered under audit.

4. Copies of books of accounts required to be maintained i.e. Cash book, Journal book, Receipt and Payment.

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