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Documents required for finalization of ITR

Aryan Roy (16 Points)

29 August 2021

What documents does a sole proprietorship firm require to finalize the ITR(financial turnover) to the auditor

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VISHAL JAIN (Self Employeed) (169 Points)
Replied 29 August 2021

Bank statement
Gst return with reco (if any)
Form 26 AS
Last year financial (if any)

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sabyasachi mukherjee (27593 Points)
Replied 30 August 2021

Pan card , balance sheet,profit and loss, adhar card(everification).

Aryan Roy (16 Points)
Replied 30 August 2021

Sir, I meant that what documents do we need to give the auditor so that he can finalize our (a sole proprietorship firm's) ITR

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 02 September 2021

The various documents required for ITR filing:

1. The appropriate ITR Form

2. Aadhaar linked with PAN

3. For Salaried Employees:

PAN
Form-16 (it is issued by the employer)
Monthly salary slips.

4. Interest Income related Documents required for ITR filing

Bank statement/passbook for interest on savings account.
Interest income statement for fixed deposiTS
(TDS) Certificate (it is issued by banks).

5. Form 26AS (it is provided by the Income Tax Department)

6. Section 80C Investment Documents

Investment in PPF, NSC, ULIPS, ELSS and LIC comes in deduction under Section 80C. The maximum amount claimed under section 80C is Rs 1.5 lakhs.

7. Other Expenses Deduction Documents

Contribution to the Provident Fund.
Children’s school tuition fees.
Life/Health Insurance premium pay.
Stamp-duty and Registration charges.
Principal repayment on home loan.
Mutual Funds investment.

8. Other Investment Documents required for ITR filing

Interest paid on the housing loan.
Education loan interest payments.
Stock trading statement.

Hence, the taxpayers have to maintain the record of certificates and receipts of their transactions made in the annual year for the filing of income tax return and need to attach these with it. Also if it has been asked for the clarification of transactions mentioned in the return then the taxpayers has to submit all the proofs to the AO (Assessing Officer).