Checklist for Income Tax filing

As we gear up for filing our tax returns for the last financial year, here is a simple checklist of  documents to be kept handy to calculate your tax liability.

Bifurcate your earnings in five different heads of Income to calculate your Income Tax:

1. Income from Salary
2. Income from House Property
3. Income from Business (Profits and Gains of Business or Profession)
4. Capital Gains
5. Income from Other sources

The next step you will require the following documents to help your CA or your self calculate the taxable income and file your return accordingly.

Sr.No. Asset/Item Institute Statement Name 1 SB Bank Account Statement 2 SB interest Bank SB interest statement 3 FD Bank FD Advice 4 FD interest Bank FD interest statement 5 RD Bank RD Advice 6 RD interest Bank RD interest statement 7 TDS Bank/Corporate/ Employer TDS certificate 8 PPF Bank PPF account statement 9 MF AMC Capital Gain, Portfolio 10 Equity Demat (Bank/Broker) Demat holding statement 11 Equity Broker Global Report,Profit &  Loss 12 Life Insurance Life Insurance Company Premium Paid Receipts 13 Medical Insurance General Insurance Company Premium Paid Receipts 14 Home Loan Bank/ other Institutes Home loan statement for claiming principal amount under 80C and interest amount under Sec. 24 15 Education Loan Bank/ other Institutes Education loan statement for claiming the interest under 80E 16 Property - detail of property transactions
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