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Filing taxes for the first time? Here’s the document checklist for salaried personnel

Doing something for the first time is always challenging and exciting. A lot of questions flood our mind even before we take the initial step. Similarly, filing taxes for the first time can be intimidating for many people. One of the most common questions troubling a salaried tax filer is to find out the documents needed to file Income Tax Return. If you are filing your taxes for the first time, you do not need to worry because we have compiled a checklist for you.

Personal information related documents:

• PAN card
• Passport (when filing ITR 2A)
• Aadhaar card (when filing ITR 2A)

For salary:

• Form 16 (Part A, Part B and Form 12BA if applicable)
• If no tax was deducted at source then you may not get the Form 16. In such case you can either request a salary certificate from the employer or just keep your appointment letter and all your salary slip handy with you.

Tip: Form 16 is most important document for filing the tax return. Find more about Form 16 here.

You can upload PDF file of your Form 16 on our website & our application will auto-populate the information in the return form so that you can easily file your return.

Income from other sources (interest income in most cases):

• Bank passbook/ or Interest certificate for interest on savings bank account.
• Interest certificate and Form 16A (TDS certificate) for all your fixed deposits.
• Details of other income earned (if any) e.g. dividend, commission, etc.

Tip: It is important to show the saving interest in the return and to claim the related deduction u/s 80TTA.

Details of your tax saving investments/expenses:

• For claiming deduction of up to Rs. 1.5L u/s 80C
• Life insurance premium payment receipts
• Your contribution to Public Provident Fund (PPF)
• Your contribution to NPS
• Stamp-duty and registration charges paid for the purchase of a house (if applicable)
• Home loan interest and principal repayment certificate (if applicable)
• Medical insurance premium receipts (u/s 80D)
• Interest certificate for you education loan (u/s. 80E)
• Donation receipts for the year (u/s 80G)
• Other tax saving investment / expenses (know more about section 80C deductions here and section 80D here)

Details of any other deduction you missed to claim from your employer:

• Your rent receipts and salary slips in case you missed to claim HRA exemption
• Details of travel cost (travel tickets, boarding passes, etc.) for claiming LTA exemption

Form 26AS:

Form 26AS contains all information related to various income earned by you during the year and the taxes deducted on such income at source. You can download your Form 26AS from https://incometaxindiaefiling.gov.in/. You can find a step-by-step guide here to view/download Form 26AS.
It is important and in your best interest to reconcile the details in your return with the details reflected in the Form 26AS to avoid delayed and short refund or tax notices and penalties from the department.

If you find tax return filing tedious, then you can leave the task to a tax expert who can accurately e-file your taxes and maximize your refunds. Click here to let a tax expert do the job!

This article was first published on H&R Block India  

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