10 Essential Documents Required for Income Tax Return Filing in Financial Year 2022-23

The income tax return filing for the fiscal year 2023-23 is going on both the online and offline options for the taxpayers until 31 July. There are seven different types of ITR forms for various taxpayers. There are 10 necessary documents required to complete the income tax return process for the financial year 2022-23.

Documents Required To Complete The Income Tax Return Process

1. Sale Deed

If you have any capital gains in the previous financial year then you are required to have a sale deed while you are filing the income tax return.

2. Dividend Warrants

Dividends are amounts given by the company to the shareholders from their net profits. All the dividend warrants are required to be mentioned while filing the income tax returns. It results in increasing the annual income of the taxpayer.

3. Format 26AS

Form 26AS is available for download from the income tax official web portal. It is a yearly tax statement that contains information on taxes deposited and deducted from the government against your PAN card.

4. Proofs of Investment

You will require investment documentation to claim deductions if you file income tax under the former or the old tax regime. Proofs may include PPF, mutual funds, and other investments. These will lower your tax bill.

5. Lease Agreement

A rent agreement is also required if you have rental revenue.

6. Form 16

Form 16 is also required for paid workers to file their ITRs. The Form 16 is used to file the income tax return. Employers are responsible for providing it.

7. Forms 16A, 16B, and 16C

These are the TDS certificates that your employers have granted to you. These documents are sent if you have purchased or sold a property or received rental money. The tax deductor issues Form 16A, the buyer of immovable property issues Form 16B, and the individual or HUF paying rent issues Form 16C. 

8. PAN Number

The PAN card is required when submitting an income tax return. All important financial transactions in a fiscal year, like the purchase of a property, gold, and so on, require PAN data in order to deduct TDS. The income tax department issues the paperwork.

9. Aadhaar Card

The Aadhaar card is also important since the income tax return may be filed using an Aadhaar card rather than a PAN card. Individuals must also give the data of their Aadhaar card while filing their taxes, according to Section 139AA of the Income Tax Act. If a taxpayer does not have an Aadhaar card but has applied for one, the enrollment ID must be provided. In addition, PAN and Aadhaar must be linked by June 30, 2023.

10. Bank Statements

Bank statements are essential documents required while filing an income tax return. The bank account details include your name, account number, IFSC code, and several other details that need to be mentioned in the income tax return. The bank account that you mentioned as the primary bank will also be used for processing your tax refund. 

Also Read:

Income Tax Department Announces Updated Guidelines For Cash Limit At Home

Attention Taxpayers!! Because Of These Reasons, You May Receive An Income Tax Notice

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Stuti Talwar

Expressing my thoughts through my words. While curating any post, blog, or article I'm committed to various details like spelling, grammar, and sentence formation. I always conduct deep research and am adaptable to all niches. Open-minded, ambitious, and have an understanding of various content pillars. Grasp and learn things quickly.

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