Income Tax Filing in India

Approx. 60 Million Income Tax Returns are filed in India every year and it is one of the major sources of revenue besides indirect tax in India.

The Income Tax Filing in India is quite a complex procedure and requires lot of documentation. Although documents are not required at the time of ITR filing, however, for the purpose of proper computation of tax liability and filing of tax return, such documents are required. Further, such documents comes to the rescue of the tax payers at the time of any Income Tax Assessment against the assessee by the tax authorities or at the time of any inquiry related to tax return filing by the tax department.

In this write up, we would try to understand what are the different types of documents required for filing Income Tax Return in India.

Documents required for ITR Filing in India by various assessee in India

Following are the list of documents required for tax return filing by various assesses in India:

ITR filing by Corporate Assesses

a) Copy of audited balance sheet, profit and loss account, cash flow statements and notes to accounts
b) Copy of Tax Audit Report of current year and last year
c) Copy of Transfer Pricing Audit Report
d) Copy of Form 26AS and AIS
e) Copy of all Bank Statements
f) Details of any capital gain transaction
g) Copy of ROC annual Return
h) Tax login id and password
i) Digital Signature

ITR filing by Limited Liability Partnerships

a) Copy of audited balance sheet, profit and loss account, cash flow statements and notes to accounts
b) Copy of Tax Audit Report of current year and last year
c) Copy of LLP agreement to determine profit sharing ratio and interest and remuneration
d) Copy of Form 26AS and AIS
e) Details of any capital gain transactions
f) Copy of all Bank Statements
g) Tax login id and password
h) Digital Signature

ITR filing by Partnership firms

a) Copy of audited balance sheet, profit and loss account, cash flow statements and notes to accounts
b) Copy of Tax Audit Report of current year and last year
c) Copy of Partnership deed to determine profit sharing ratio and interest and remuneration
d) Copy of Form 26AS and AIS
e) Copy of all Bank Statements
f) Tax login id and password
g) Digital Signature

ITR filing by Proprietorship firms

a) Copy of audited balance sheet, profit and loss account, cash flow statements and notes to accounts
b) Copy of Tax Audit Report of current year and last year
c) Copy of Form 26AS and AIS
d) Copy of all Bank Statements
e) Details of investment made in section 80C and 80D

ITR filing by Individuals and HUF

a) Copy of form 16, salary slip, employment contract letter, copy of form 16A
b) Copy of form 26AS and AIS
c) Copy of bank statements of all the bank accounts
d) In case of Non Residents, details of number of days of stay in India during last year, last 4 years, last 7 years and last 10 years in order to determine the residential status
e) Copy of documentary evidences of investments made u/s 80C and 80D
f) Copy of PAN, Aadhar, Passport
g) In case of investment in shares, mutual funds, copies of contract notes, statement of investments etc.
h) In case of sale of property, copies of sale and purchase deed
i) Income tax login password

Thus, it may be noted from above that there are some common documents required for filing Income Tax Return in India for all types of assessee; however, depending upon the types of assessee, some additional documents are also required for tax return filing in India.
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