New Delhi: The Income Tax Department has said that over 5 crore Income Tax Returns (ITRs) have been filed till July 26 for the current assessment year. This represents an 8 percent increase from the previous year. The Income Tax Department received over 28 lakh ITRs on Friday. The last date to file ITR for AY 2024-25 is July 31.
‘We express our gratitude to the taxpayers & tax professionals for helping us reach the milestone of 5 crore Income Tax Returns (ITRs). Over 5 crore ITRs for AY 2024-25 have already been filed till 26th of July this year as compared to 27th of July last year. We urge all those who haven’t filed ITR for AY 2024-25, to file their ITR at the earliest to avoid last minute rush,’ I-T department posted on social media platform X (previously Twitter).
Which documents are needed to file income tax return (ITR)
Bank TDS certificates
Bank account statements
Aadhaar and PAN, and they should be linked
Form-26AS
Annual Information Statement (AIS)
Other documents that salaried individuals need for filing income tax return (ITR)
Form-16 issued by the employers. This incudes all the forms if you have switched jobs during the same year.
Past tax returns which have been filed.
Salary slips, including income earned from abroad, if applicable.
Rent agreement and rent receipts for claiming HRA.
Foreign bank account statements in case you were deputed abroad.
Transaction statements of foreign investments made to make the relevant disclosures.
Form 67 if you are claiming credit of taxes paid in a foreign country with which India has double taxation avoidance treaty.
Details of your assets and liabilities if your income exceeds ?50 lakh and you are filing returns through ITR-1, which contains AL (asset-liability) schedule.
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For Sections 80C and 80CCD(1B) deductions
Confirmation of having invested in equity-linked saving schemes (ELSS).
National Pension System (NPS) contribution proof.
Premium receipts of life insurance premiums paid.
For section 80D deductions
Health insurance premium receipts.
For Section 80E deductions
Interest certificate from the bank which granted the education loan.
For Section 24B deductions
Interest certificate from your bank to claim deduction of up to ?2 lakh under section 24(B).
For Section 80G deductions
Receipts of donations to charitable institutions eligible for deductions under section 80G.
Documents for income from other sources
Capital gains/loss statements issued by mutual fund house or intermediaries, stock brokers, and so on.
Bank account statements and TDS certificates.
Virtual digital assets (VDA) transaction statements, particularly in the VDA schedule.
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