ITR Income Tax Return Service
ITR income Tax Return
Certain documents are mandatory for submission and preservation as evidence under the Income Tax Act, 1961, and Income Tax Rules, 1962. These documents typically include a copy of the PAN card, a copy of the Aadhaar card, a bank statement or bank passbook, and the taxpayer’s Income Tax login ID and password.
The specific ITR form required for filing depends on the type of income, the taxpayer’s category, and the individual’s income. Choosing the wrong form can necessitate refiling the ITR.
Benefits of Filing Income Tax Returns:
-
Ease of Obtaining Loans: Banks consider last three years’ IT returns when evaluating loan applications for education, vehicles, or personal needs.
-
Visa Application Requirements: Immigration centers thoroughly review documents, and IT return proofs are mandatory for visa applicants.
-
Avoiding Penalties: Non-filing of income tax returns incurs hefty charges. Filing your ITR promptly is crucial to avoid legal consequences.
Documents Required for IT Return Filing in India:
The following documents are needed for for ITR Return Feeling in India:
-
Bank statements
-
Proof of investments
-
TDS certificates in Form 16 or 16A, as applicable
-
Documents related to the purchase and sale of investments or assets
-
Statement of receipts and payments when no regular books are maintained
-
Receipts for insurance premium payments, provident fund contributions, NSC purchases, new equity shares, mutual funds, NSS, donations, etc., to substantiate claimed deductions