Income Tax News: Must Have Important Documents You Need for ITR Filing FY 2024-25

Taxpayers getting ready to file their ITR should make sure they have the following important papers—missing any of them could cause delays or lead to extra scrutiny:

1. Form 16: Proof of Pay and TDS Information
   
2. Certificates of deposit from banks and the post office
   
3. Form 26AS and the Annual Information Statement (AIS)
4. Interest Certificate for Home Loan
   
5. Proof of investments and expenses to get tax breaks
   
6. Statements of capital gains
   
7. PAN Card and Aadhaar
   
8. Details of your bank account

The new ITR rules need more detailed information

This year, ITR papers need more information about deductions, like the names and policy numbers of health and life insurance companies.

• Details about the rent, such as the landlord's PAN, for HRA claims
• Numbers that can be used to donate to political groups
• Specifics of the illness for deductions under critical medical situations
• This is part of a bigger push to make identification better and stop fraud.
• The new due date is September 15, 2025.

The government has pushed back the date for filing the ITR to September 15, 2025. This gives taxpayers more time to get the documents they need. It's important to note that Section 234A interest will not be charged if forms are filed and self-assessment tax is paid by the new due date.

But Sections 234B and 234C still apply for tax obligations that need to be paid in advance.

How to File for a Smooth Experience

Get your documents together early, especially the ones that need feedback from a third party.

• Check AIS and Form 26AS for any mistakes.

• Pick the right ITR form based on how you make money.

• Check deductions, exemptions, and the choice of government (old vs. new) twice.

Being well-prepared is very important because compliance and disclosure rules are getting tighter. This item from Income Tax News can be used as a guide to help you file your ITR easily and on time.