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ITR Filing 2019-20: Last date, list of documents required to file an Income Tax Return

Income Tax Return (ITR) Filing 2019-20 Last Date, documents required: Have you filed your income tax return (ITR) for the financial year 2019-20 (FY20) yet? If the answer is no, then you must check this to know the documents required.

By: Express Web Desk | New Delhi | Updated: December 18, 2020 3:01:05 pm
income tax return, income tax return itr filing, last date to file income tax return 2019-20Income Tax Return (ITR) Filing 2019-20 Last Date: Things to keep in mind while filing your income tax return. (Representative image)

ITR Filing 2019-20: The last day for filing your income tax return (ITR) for the financial year 2019-20 (FY20) is finally approaching. The deadline for ITR filing is generally on July 31 each year but this year, the last date has been shifted a couple of occasions because of the outbreak of the coronavirus (COVID-19) pandemic and was fixed at December 31, 2020.

If you have still not filed your ITR, you still have a little over 10 days to do it. However, it is generally advisable to file your ITR as early as possible to avoid a last-minute rush or errors.

Here’s a list of key documents that you need to be equipped with to file your correct income tax return:

1. Form 16

For salaried individuals, Form 16 is a key document for filing the ITR. This document gets issued by an employer to its employees. It is a mandatory document and every employer is liable to issue Form 16 to all its salaried employees from whom income tax has deducted. It is a tax deducted at source (TDS) certificate and carries the details of the salary paid to the employee and their TDS.

Form 16 consists of two parts – Part A and B. Part A is the portion that consists of the income tax deducted by the employer in the financial year. Separately, it has the Permanent Account Number (PAN) details of the employee and the Tax Deduction Account Number (TAN) of the employer. Part B of Form 16 includes the break-up information of employee’s gross salary.

2. Interest income certificates

Apart from the income from salary, an individual gets income from various interest investments such as savings account deposits and fixed deposits (FDs) from banks and post offices. These financial institutions provide interest certificates/bank statements to their depositors for the same. An individual can claim deduction under section 80TTA of the Income Tax Act up to Rs 10,000 on the interest earned from their savings account held with a bank/post office.

3. Investment proofs for tax saving

Those employees who did not submit their tax-saving investment proofs to their HR/Accounts department during the given time period in the previous financial year will now have to submit the proof of the same directly to the I-T Department for claiming tax deductions.

These include receipt of life insurance (LIC) premium paid, receipt of medical insurance, Public Provident Fund (PPF) passbook, 5-year FD receipts, mutual funds investment (ELSS), home loan repayment certificate/statement, donation paid receipt, tuition fee paid receipt etc.

4. Form 26AS

The Form 26AS is an annual consolidated tax statement generated by the I-T Department. It can easily be accessed from the income-tax website by all taxpayers using their PAN. It contains the amount of the TDS of the salaried class and taxes paid during the financial year (in case of self-employed or businessmen).

While filing the ITR, taxpayers can refer to their Form 26AS and tally it with their Form 16 for the amount of taxes they paid to the treasury of the central government.

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