Filing your Income Tax Return (ITR) may sound like a routine task, but for many taxpayers, it becomes a stressful chore every year. One of the biggest reasons for errors, delays, or even income tax notices is lack of proper preparation. The truth is, if you gather the right documents in advance, filing your ITR can become smooth, quick, and error-free.
Whether you are a salaried employee, a freelancer, or a business owner, the Income Tax Department requires a clear picture of your income, deductions, and taxes paid. This information is scattered across multiple documents, and collecting them at the last minute often leads to panic and mistakes.
Let’s break down the five most important documents that you should keep ready before you begin filing your ITR for the financial year 2024-25 (assessment year 2025-26).
✅ 1. Form 16 – Your Salary Summary at a Glance
If you’re a salaried employee, Form 16 is your most important document. It is issued by your employer and contains a summary of the salary you earned during the financial year and the tax deducted at source (TDS).
🔍 Why Form 16 Is Important:
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Shows break-up of your salary
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Contains details of exemptions like HRA, LTA, and standard deduction
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Clearly states TDS deducted and deposited by your employer
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Helps you cross-check with your salary slips and bank account
Tip: Always verify that the TDS mentioned in Form 16 matches the one in Form 26AS. Mismatches can cause refund delays.
✅ 2. Form 26AS & AIS – The Taxman’s Watchlist
Form 26AS and AIS (Annual Information Statement) are available on the Income Tax Department’s portal. These are incredibly useful tools that reflect your actual tax payments and financial transactions.
📄 Form 26AS shows:
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TDS deducted by employers and banks
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Advance tax and self-assessment tax paid
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Refunds issued to you
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High-value transactions
📄 AIS (Annual Information Statement) includes:
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Interest from savings accounts, FDs, RDs
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Dividends earned
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Stock or mutual fund purchases/sales
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Rent income, credit card spends (if high in value)
Tip: Compare your income sources and investments with AIS data. If there’s a mismatch, the tax department may send a notice later.
✅ 3. Interest Certificates from Banks and Post Office
Every year, many taxpayers forget to report income earned from savings bank accounts, fixed deposits (FDs), or post office schemes. Even though these amounts may seem small, they are taxable and must be declared.
🏦 What You Should Collect:
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Interest certificate from your savings bank account
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Annual interest statement from FD/RD accounts
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Certificate for interest earned from Post Office schemes (e.g., PPF, MIS, NSC)
Tip: While savings account interest up to ₹10,000 is exempt under Section 80TTA (₹50,000 for senior citizens under Section 80TTB), you must still report the full amount in your return.
✅ 4. Investment Proofs for Tax Deductions
Tax-saving investments and eligible expenses help you reduce your taxable income. But claiming deductions without proper proof can lead to issues during assessment.
Here are the common sections under which you can claim deductions:
💡 Section 80C (Limit: ₹1.5 lakh)
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PPF (Public Provident Fund)
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ELSS (Tax-saving mutual funds)
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NSC (National Saving Certificate)
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Life Insurance Premium (LIC)
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Children’s Tuition Fees
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Principal repayment of home loan
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Sukanya Samriddhi Yojana
💡 Section 80D
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Health insurance premium paid for self, spouse, children, and parents
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Preventive health check-ups
💡 Section 80E
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Interest paid on education loan (no upper limit, up to 8 years)
Tip: Gather all premium receipts, account statements, policy documents, or official certificates in PDF or hard copy format. These are often requested by your employer or the tax department.
✅ 5. Loan Interest Certificates – Home & Education Loans
Home loans and education loans offer valuable tax benefits, but to claim them, you must have the right documents.
🏠 Home Loan:
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Under Section 24(b), you can claim up to ₹2 lakh on interest paid
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Principal repayment can be claimed under Section 80C
🎓 Education Loan:
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Interest on education loan can be claimed under Section 80E
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Valid for up to 8 financial years, starting from the year repayment begins
Tip: Request your bank or financial institution to issue annual loan interest certificates. Without this, the Income Tax Department may disallow your claim.
✅ BONUS DOCUMENTS – Often Forgotten, Always Important
Apart from the five main documents mentioned above, here are a few more that are often overlooked but crucial for correct filing.
📌 Capital Gain Statements (Shares, Mutual Funds, Property)
If you’ve sold:
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Stocks or mutual funds
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Real estate property
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Gold ETFs, bonds, or other assets
You must report capital gains or losses in your return.
Tip: Use reports from your mutual fund platform, demat account, or broker. CAMS, KFinTech, and NSDL provide consolidated capital gain statements that are easy to use.
📌 Advance Tax & Self-Assessment Tax Receipts
If you’re a freelancer, business owner, or investor, chances are you paid advance tax during the year.
If your tax liability is not covered by TDS, you must calculate and pay self-assessment tax before filing your return.
Tip: Keep the Challan 280 receipts issued during online payment. You’ll need the BSR code, date of payment, and amount paid** while filling out your ITR.
📌 Previous Year’s ITR Copy
Though not mandatory, keeping a copy of your previous year’s ITR is always a good idea. It helps in:
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Carrying forward losses
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Comparing income trends
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Pre-filling certain ITR fields
📋 Quick Checklist: What to Keep Ready Before Filing ITR
Document Type | Purpose |
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Form 16 | Salary and TDS details |
Form 26AS & AIS | Verify tax credits and income |
Bank/Post Office Interest Certificates | Declare interest income |
80C/80D/80E Investment Proofs | Claim deductions |
Loan Certificates (Home/Education) | Deduct interest paid |
Capital Gains Statements | Report profits/losses on assets |
Advance/Self-assessment Tax Receipts | Claim prepaid taxes |
Previous ITR Copy | Reference and validation |
📌 Common Mistakes to Avoid
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❌ Failing to report all income sources
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❌ Mismatch between TDS and income declared
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❌ Missing documents while claiming deductions
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❌ Forgetting to include interest income
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❌ Incorrect bank account for refund
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❌ Not verifying ITR after submission (Your return is incomplete unless verified)
✅ Final Thoughts
Filing your ITR doesn’t have to be a burden. With the right preparation, you can complete it efficiently, claim all eligible deductions, and get your refund faster—without worrying about errors or notices from the tax department.
Start early. Gather your documents in one folder or a drive. If needed, consult a tax expert—but make sure you have all the paperwork in place.
A little preparation today can save you from big troubles tomorrow.
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