As the financial year 2024–25 has begun, the focus for many taxpayers is now on filing their Income Tax Return (ITR) on time. The last date for ITR filing for most salaried individuals is 31 July 2025. Although the actual process of filing the return will begin soon, it is always better to start preparing early.
Filing ITR is not just about filling in details online. You need to keep several important documents ready before you sit down to file your return. These documents help you fill in correct income details, claim deductions, and avoid notices from the income tax department later.
Here is a complete and updated list of documents you should start collecting now for a smooth and timely ITR filing in 2025.
PAN and Aadhaar Card: The Basic Identity Documents
To begin with, make sure your PAN card and Aadhaar card are in order. These two are the main identity proofs needed to file your return. Also, ensure that your PAN is linked with Aadhaar. Without Aadhaar-PAN linking, you may face issues in filing your return or processing refunds.
These documents are used for verifying your identity during the e-verification process after the return submission. Always keep both numbers handy before logging into the income tax portal.
Form 16: Must for Salaried Employees
If you are a salaried individual, Form 16 is the most important document. It is provided by your employer and includes the salary breakup and the tax deducted (TDS) from your income during the financial year.
Form 16 has two parts:
- Part A: Details of TDS deducted and deposited with the government.
- Part B: Breakup of salary, allowances, deductions under section 80C, and net taxable income.
You usually receive Form 16 by 15 June, so if you changed jobs during the year, make sure to collect it from all employers.
Form 26AS and AIS: Income and Tax Summary
Form 26AS is your annual tax statement available on the income tax website. It contains details of:
- TDS deducted by the employer or the bank
- Advance tax paid
- High-value transactions like property purchase or large investments
The Annual Information Statement (AIS) is another important document. It shows all income details, like:
- Salary
- Savings account interest
- Fixed deposit interest
- Mutual fund transactions
- Stock market trades
- Foreign remittances
You should match the details in Form 26AS and AIS with your records. Any mismatch may raise a red flag during return processing.
Bank Account Details: For Refund and Verification
You must provide details of all active bank accounts held during the financial year. Make sure to enter:
- Correct account number
- IFSC code
- Bank name
Only one account will be selected for receiving the tax refund, if any. If the bank details are wrong, your refund might get delayed or rejected.
Also, download interest certificates from your bank for income from savings and fixed deposits. These are needed to calculate Income from Other Sources.
Interest Certificates: Include All Earnings
Your bank and post office accounts may give you small interest amounts, but they are taxable. So don’t forget to collect and declare:
- Savings account interest
- Fixed Deposit (FD) interest
- Recurring Deposit (RD) interest
Visit your bank’s app or website and download the interest statement for the year. Even small amounts must be shown in your ITR.
Investment Proofs: To Claim Tax Deductions
If you want to save tax legally, you must have proof of investments or expenses under various sections of the Income Tax Act. Some important ones are:
Under Section 80C (up to ₹1.5 lakh):
- Life insurance premium
- PPF deposit slips
- ELSS mutual fund statements
- Children’s school fee receipts
- Principal repayment of the home loan
Under Section 80D:
- Health insurance premium for self and family
Other Sections:
- Interest on education loan (80E)
- Donations to charity (80G)
Collect all original receipts and premium statements. If you forgot to declare these to your employer, you can still claim them directly while filing ITR.
Home Loan and Rent Receipts: For HRA and Interest Deduction
If you live on rent and get House Rent Allowance (HRA), you need to show:
- Monthly rent receipts
- Rent agreement
- PAN of landlord (if rent is above ₹1 lakh annually)
If you have a home loan, collect a certificate from the bank showing:
- Principal repayment (for 80C)
- Interest paid (for 24(b), max Rs.2 lakh)
If you have two properties, you need to declare one as self-occupied and the other as let-out and report rental income accordingly.
Capital Gains Statements: For Sale of Shares, Mutual Funds, or Property
If you earned profit from:
- Sale of property
- Sale of shares or mutual funds
- Sale of gold or other capital assets
You must collect:
- Sale deed or agreement
- Capital gains statement from the broker or mutual fund house
- Purchase documents (for cost calculation)
- Details of STT paid
Short-term and long-term capital gains are taxed differently. So collect the holding period details, date of purchase, and sale price for correct tax calculation.
Foreign Income or Property: If Applicable
If you work abroad or have income from a foreign country, you must declare the income even if it is not taxable in India due to the DTAA. You must report:
- Salary earned abroad
- Foreign bank accounts
- Property abroad
- Investments in foreign companies
Even if no tax is payable in India, non-reporting may lead to penalties under the Black Money Act.
Business or Freelancing Income: Full Reporting Needed
If you are a freelancer, consultant, or run a small business, then you need to maintain:
- Profit and loss statement
- Balance sheet (if required)
- GST returns (if registered)
- Professional receipts
- Business expenses
Use tools like Excel or accounting software to track monthly income and expenses. You can also claim deductions under presumptive taxation (if eligible).
Advance Tax or Self-Assessment Tax Receipts
If your total tax liability after TDS is more than ₹10,000, then you need to pay advance tax during the year. Collect the challan receipts (Challan 280) for:
- Advance tax paid quarterly
- Self-assessment tax paid before return filing
Make sure the payment is reflected in Form 26AS.
Previous Year’s ITR Copy and Old Tax Notices
Always keep a copy of your last year’s ITR. It helps to:
- Compare income and tax data
- Pre-fill details in the new ITR
- Respond to any tax notices
Also, if you received any tax notice in the past, keep it for reference while filing the new return.
When Will ITR Filing Start in 2025?
The Central Board of Direct Taxes (CBDT) has already notified new ITR forms in April. The income tax portal is expected to open for return filing anytime soon. However, most salaried people file their returns after 15 June, when they receive Form 16 from their employer.
If you want to avoid a last-minute rush and errors, it’s better to start collecting these documents now. Being prepared will help you file your return on time and claim the maximum refund without any problems.
