Its time to submit income tax returns for FY 2024-25.
Following is the list of documents required
You may or may not have all of these documents, please furnish if any of these are available.
A. Documents Required:
1. Form 16, as received from your employer or employers.
2. Form 16 A, for income from other source, may be interest on deposits, etc.
3. Investment in mutual funds, and also transactions for share and derivatives.
4. Interest paid if any on housing loan.
5. Rent received from house property/s, shops, factories or commercial property, or any other property/s given on rent. Address of the property and % of ownership. Municipal tax paid and interest on loan if any for the property.
6. Bank statements for saving and current account
7. Details of sales and purchase of you business income.
8. Income from any investment like partnership firm, corporate entity.
9. Investment proof, for deduction u/s 80 C.
a) Principle repayment for housing loan,
b) Tuition fees paid for children’s education,
c) Investment in public provident fund.
d) Equity linked mutual fund.
e) Premium paid on life insurance policies.
f) Investment in notified deposits.
10. Income, assets and liabilities in foreign countries and other details:
a) Details of foreign bank accounts (bank statements, account no, bank address )
b) Immovable property
c) Other capital assets including shares etc. Share transactions and security in hand on 31st March
d) Interest in trust, partnership, corporate entity.
e) Other income if any.
11. Login and other details
a) Bank account no and IFSC.
b) Cell no
c) Scan copy of PAN and addhar card
d) Income Tax Password.
e) Personal email ID.
f) Copy of passport and visa to show time ( April to March ) spend during the year.
12. We will be comparing AIS ( a details information file generated from Income Tax Portal) and will send for your review.
13. If you have sold any immovable property.
a) Sale price and date of sale of immovable property/ies.
b) Immovable property/ies including Housing property, land and commercial complex. Specifying its cost, year of acquisition.
For income crossing more than INR 1 Crore.
14. Declaration of all properties and liability associated with it.
a) Immovable property/ies including Housing property, land and commercial complex. Specifying its cost, year of acquisition.
b) Gold ornaments, bullion etc
c) Vehicles, boats, etc.
d) Insurance Policies.
e) Bank balance and Deposits.
f) Share and Securities.
g) Cash in Hand.
h) Loans and Advances.
Your early response shall be appreciated.
Hon Advisors