22/04/2016 8:14 AM IST | Updated 15/07/2016 8:26 AM IST

The Ultimate Document Checklist For E-Filing Your Tax Return

Man struggling to push large 'tax' on clock approaching midnight deadline
Gary Waters via Getty Images
Man struggling to push large 'tax' on clock approaching midnight deadline

It's almost tax filing season, and even though there's still time it doesn't hurt to be prepared early. That, as they say, is half the work done. Here's the ultimate document checklist that'll get you started with your e-filing.

General details

• Your PAN number: Also remember to enter your name in your tax return exactly as it is written on your PAN card (first, middle, last).

• Bank account details: You'll need IFSC code, name of the bank, account number, and whether it's a savings or current account.

To report salary income

• Form 16 : Some websites allow automatic preparation of your tax returns, and you must take full advantage of that and upload your Form 16 to prepare your tax return.

• Rent receipts to claim HRA : If you receive house rent allowance (HRA) from your employer but could not submit rent receipts in time to claim HRA exemption, you can do so at the time of return filing.

• Pay slips: If you do not have Form 16, you can prepare and file your tax return via pay slips given by your employer.

To report house property income

• Address of your house property

• Details of co-owners with their PAN and percentage share in the property

• Home loan interest certificate

• Date of completion of construction, if you purchased an under construction property and want to claim home loan interest

• If you your property is rented, its rental income and name of tenant, PAN of tenant is optional

To report capital gains

• If you have capital gains from sale of shares, you'll need your stock trading statement, details of purchases, sales and the dates thereof. Along with values.

• If you have sold a house property, you'll need purchase price, sale price, registration details, details of capital gains exemption sought. Such as information of new property purchased, capital gains bonds purchased, or details of amount deposited in capital gains scheme.

• Details of sale, purchase and mutual fund statement of your equity funds, ELSS, debt funds or SIPs. Since capital gains on SIPs of mutual funds are calculated via the FIFO method, you'll need complete details of your sale purchase transactions to calculate your capital gains.

To report other income

• Under this head, interest income is reported. You'll need your bank account statements for your saving account interest. Fixed deposit statement to report interest earned during the year.

• Any interest income from corporate bonds, tax saving bonds etc. You'll be able to locate these in your bank account statement.

• Post office deposit interest income details from post office pass book.

To claim tax saving deductions

• Section 80C deduction maximum Rs 1,50,000

o LIC and ULIP premium paid receipts

o NSC certificates purchased

o PPF deposit slip or updated PPF passbook

o Sukanya Samridhi deposit proof via passbook update or bank account statement

o SIP statement of ELSS mutual funds

o Children's tuition fees receipt

o EPF statement for deposits made to EPF by you

o Principal repayment of home loan

o 5-year fixed deposit receipt

• To claim NPS deduction under section 80CCD(1B) - Tax receipt from your NPS provider or NPS deposit statement.

• To claim deduction as per section 80D-- medical insurance premium receipt

• To claim deduction for education loan Section 80E--bank certificate for interest payments on education loan.

• Donation receipts with details of name of donee, PAN of the donee and address of donee is required to claim deduction under section 80G.

Other important income tax forms & details

• Details of TDS deducted from your income which can be claimed in your income tax return--Form 26AS

• Self-assessment tax payment details, if you have any tax due for the year.

Form 16A if deductors other than your employer have deducted TDS on your income.

• Past years' tax returns to carry forward your income tax losses, if any.

With this information, you'll fly at filing income tax returns this year.

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