(MENAFN- AsiaNet News) Filing Income Tax Returns (ITR) is a critical chore that necessitates careful preparation, and correct documentation is required to guarantee a smooth procedure. The following is a list of necessary papers for submitting ITR for the fiscal year 2023-24 (the assessment year 2024-25).
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_9ddb17bd-c_Image_In_Body.jpg)
The following is a list of necessary papers for submitting ITR for the fiscal year 2023-24 (the assessment year 2024-25).
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_debb6f6a-a_Image_In_Body.jpg)
Your PAN
is utilized for TDS deductions and should be linked to your bank account to receive direct income tax refunds.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_efa99e08-4_Image_In_Body.jpg)
By connecting your PAN and Aadhaar, you may validate your ITR online using an OTP.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_eb9a8ccb-1_Image_In_Body.jpg)
Bank account information: On your ITR, you must mention all active bank accounts, including one allocated for tax refunds.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_0cce1811-9_Image_In_Body.jpg)
Form 26AS is an annual tax statement that displays the taxes paid on your PAN. It includes TDS data from banks, employers, and other entities
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_a774b212-c_Image_In_Body.jpg)
Forms 16A, 16B, and 16C are necessary for collecting TDS on non-salary income. Form 16A is provided by deductors, such as banks.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_59492dce-6_Image_In_Body.jpg)
In contrast, Forms 16B and 16C are used to report real estate transactions and rental revenue.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_624ebcc4-2_Image_In_Body.jpg)
Form 16 is issued by the firm and contains information regarding your salary and TDS. For salaried persons, filing an ITR is critical.
![ITR Filing: PAN Card To Form 16-Important Documents You Need In Hand Image](https://menafn.com/updates/pr/2024-05/13/AN_00470c38-d_Image_In_Body.jpg)
When filing taxes, you must include information on the principal and interest payments on your mortgage. If you have a house loan, get statements from your banking institution.
![Foreign income]()
Documents pertaining to money earned abroad are necessary for claiming tax or DTAA (Double Taxation Avoidance Agreement) advantages.
![Capital Gains Data]()
If you've sold assets like stocks or real estate, retain the broker statements or sale deeds to track any capital gains or losses.
![Rental Income]()
If you make money from your house or property, you must report it on your income tax return. Also, if you pay rent, be sure you get receipts from the landlord.
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