Last date for filing ITR 2023 for individuals: The last date for filing income tax return without penalty is July 31. While some users complained about glitches in the income tax site and demanded an extension of the last date for filing ITR, the Finance Ministry does not seem to be in any mood to extend the last date. In such a situation, taxpayers should file their ITR before July 31 to avoid last minute rush and website related problems. So far more than 3.61 crore ITRs have been filed. If you are planning to self-file your Income Tax Return for Assessment Year 2023-24, here is a quick document checklist that you should keep ready before logging on to incometax.gov.in to file the tax return:
Form 16/16A: Form 16 is issued by employers and contains details of salary, tax deducted and TDS (tax deducted at source) of salaried individuals. Form 16A is also issued for TDS on income other than salary, such as interest income, commission etc.
bank details: Bank Statements provide details of income earned by way of interest on savings accounts, fixed deposits etc. It also helps in cross-verifying the income mentioned in the tax return.
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Form 26AS: Form 26AS is a statement that shows all tax-related information including TDS, TCS (Tax Collected at Source) and advance tax paid by the taxpayer.
investment proof: Documents supporting the deduction claimed under various sections like section 80C (for example, LIC premium receipts, PPF statement, NSC certificate, etc.) need to be provided.
Home Property Details / Home Loan Details: If you have a house property, details such as address, ownership, rental income (if applicable), and interest on home loan need to be submitted.
Rental Income: If you have received rental income from your property, you need to report the same while filing ITR. If you are staying on rent, you must collect the rent receipt from the landlord. Though these documents are not required to be submitted during ITR filing, they are required to be submitted to your employer or Income Tax Department for tax declaration, if required.
capital gains: If you have sold any assets like stocks, property etc., documents showing transaction details and capital gains have to be submitted.
other income proof: Any other income earned during the financial year should be supported by relevant documents (for example, interest income from fixed deposits, rental income, etc.).
other personal details: Personal information like name, address, contact details etc. is required to fill the tax return form.