ITR Filing Made Easy: Essential Documents Checklist for FY 2024-25, Avoid Last-Minute Rush

As the deadline for filing the Income Tax Return (ITR) is approaching, tension is increasing among taxpayers. A large number of taxpayers are simultaneously trying to finish filing their ITRs for the financial year 2024-25 (assessment year 2025-26), which is also leading to issues in the Income Tax Portal. Generally, taxpayers find the process of filing an ITR tricky and confusing; however, once you are aware of all the essential documents required for filing a return, the process slowly seems easier.

Often, salaried employees who file their ITR for the first time get confused regarding documents required to complete the filing process, different types of ITR forms, and due dates safe from penalties. One of the key steps every taxpayer must complete before filing their ITR is to prepare all significant documents. To simplify the process of filing ITR, here is a detailed list of documents taxpayers must keep ready.

Checklist of Documents Required for ITR Filing

Form 16

• Form 16 is a certificate that is given by an employer to their employees. It displays total salary, how much tax was deducted (TDS) and paid to the government during the financial year, and deductions and exemptions claimed. This form helps confirm details from your ITR form. It also shows deductions claimed if you submitted proof. If you are also due to file your ITR, then you should collect Form 16 from your present and previous (if you changed your job in the middle of the financial year) employer or employers.

PAN Card

• Taxpayers must ensure their PAN card is linked to their Aadhar card.

Form 26A

• Form 26A is a type of certificate used in the income tax system that acts as a consolidated report for a financial year. Form 26AS displays details such as TDS, TCS, and TDS on property sales, etc. Form 26A can be downloaded online from the TRACES portal.

Annual Information Statement (AIS)

• AIS is the latest version introduced by the Income Tax Department. It includes maximum details from Form 26AS and is its comprehensive version. It includes extra details such as interest earned from savings accounts, dividends from shares, buying or selling of stocks and mutual funds, credit card payments, property purchases, and even money sent abroad. Basically, an AIS is a much more comprehensive view of financial transactions or receipts of taxpayers in comparison to Form 26AS. Form 26AS includes details of TDS/TCS from the income/expenditure of the taxpayer during a financial year. AIS is available on the Income Tax e-filing portal.