ITR: Keep these documents ready before filing ITR, otherwise you may face big trouble..

The last date for filing Income Tax Return (ITR) has been fixed as 15th September. If you have not filed your return yet, then it is very important to complete this work on time. Especially if you are going to file ITR for the first time, then knowing the necessary documents will prove to be helpful for you. Filing returns without the right documents can be difficult, and giving wrong information can also lead to a notice.

If you are employed, then first keep Form 16
If you are a salaried employee, then Form 16 is the most important document for you. This is given to you by your company, which contains the yearly salary, tax deduction (TDS), and other important information. This form helps in accurately confirming your income and tax while filing ITR.

Keep Form 26AS and AIS ready too.
Form 26AS is a kind of accounting of the tax deposited in your name. It shows how much TDS has been deposited in your name. At the same time, AIS, i.e., Annual Information Statement, contains information like your bank deposits, stock market transactions, and interest income. Both documents help to ensure that your declared income is correct.

Keep the bank statement and interest certificate with you
If you have deposited money in a bank account, FD, or other schemes and have earned interest from it, then it is necessary to give information about it. For this, a bank statement and interest certificate will be necessary for you, so that you can also enter the interest earned in the ITR.

Accurate information is available from salary slips
Monthly salary slips contain information about which parts are included in your salary, such as basic, HRA, bonus, or other allowances. This gives you a correct picture of your total salary and taxable income, which reduces the chances of mistakes in filling out the form.

Keep the receipts of tax-saving investments safe.
If you have invested in tax-saving schemes like PPF, LIC, and ELSS, then their receipts will be useful at the time of filing ITR. These documents help claim your tax exemption and help in reducing tax liability.

If you live on rent, then keep the rent agreement.
If you live in a rented house and want to claim HRA, then you should have the receipt of rent payment and the rent agreement. With this, you can legally avail the benefit of HRA exemption.

If the documents are correct, then the tax return will also be correct
The accuracy of the documents matters a lot while filing ITR. If you have all the necessary documents given above ready, then filing the return will be easy and hassle-free. Also, the chances of getting a notice due to wrong information or omission will also be reduced.

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