ITR Filing: The process of filing income tax returns for the financial year 2022-23 and assessment year 2023-24 has started. You can file income tax returns till July 31, 2024 without penalty.

If you want to file the return yourself, you can do so. This entire process is online. If you are filing income tax return for the first time, then it is important to keep some important things in mind. Before filing the return, every taxpayer should keep some important documents with him. With this you will not face any problem in filing the return.

1. Form-16 is necessary

Form-16 is very important for filing income tax return. Form-16 is issued to every employed person by his company i.e. employer. Form-16 is issued by the employer. Through this, filing of income tax return becomes easy. Form-16 contains information about the taxpayer’s gross income as well as net income and TDS deducted from the income.

2. Home loan statement

If you have taken a home loan from a bank or NBFC, then do not forget to take the loan statement for the last financial year from the bank. This will tell you how much interest you have paid on the loan. You can also claim tax exemption on the interest paid on the home loan under section 24 of Income Tax.

Also Read: HRA Exemption: To get HRA Exemption, those who pay rent to their parents should keep these things in mind

3. Proof of investment

If you have invested under Income Tax Section 80C, 80CCC and 80CCD for tax saving, then you can claim tax exemption with the proof of investment. This works as a proof to claim the exemption.

4. Capital gains documents are also important

If you have earned money by investing in mutual funds, stock market or property, then it is called capital gain. While filing ITR, it is also necessary to give information about the income earned through capital gain.

5. Aadhar card and PAN card are necessary

While filing income tax return, it is necessary to provide details of Aadhaar and PAN. In such a situation, you must keep both these documents with you before filing the return. Along with this, if you have more than one bank account, then it is also necessary to provide their information.

6. Salary slip is also important

While filing income tax return, the taxpayer must also have his salary slip. The salary slip contains the information about the person’s annual income, DA, house rate etc.