Firstly you have to note that while filing the tax return, every individual having both PAN card or Aadhar Card. And also they should link to each other (According to Finance Act 2017) and your bank account details. The documents you are going to need for filing Tax Return depend on your source of income.
There’s income tax return form ranging from ITR 1 to ITR 7 for different types of income. If you are a salaried individual you are only going to need Form 26AS and Form 16. There are many options to file your Income Tax Return online through official website of Income Tax Department of India. It is simple, easy and quick. The Government offers various Tax Saving Schemes where you can invest your money.
Here is the list of some Tax Saving Schemes:
Documents Required for ITR Filing
The documents that are necessary for the filing of income tax returns online are as follows:
- PAN card
- Bank statement
- Interest certificates from banks or post offices
- Proof of tax-saving investments
- Form 16 (for salaried individuals)
- Salary Slips
- TDS certificate
- Form 16A/16B/16C
- Form 26AS
Types of ITR Forms
On the Income Tax Department of India website, there are different forms that can be used to file income tax returns based on different income sources and types of taxpayers (resident/non-resident/individual/non-individual, etc.).
As of Assessment Year 2019-20, there are seven forms available from ITR-1 to ITR-7. Some of these forms might be longer than others and may require additional disclosures such as profit and loss statements. To help you know which one of the forms fits best to your requirements, here is each one of them briefly explained: