Checklist of documents required for Tax saving investments

It is a good habit to maintain a file or a folder of documents required for Income-tax return filing as well as for tax saving investments. If documents are already submitted to the employer for claiming deductions and he has issued Form 16, then it may not be necessary to preserve these documents as there is already a proof. In case you are not a salaried person, then the following  list of documents needs to preserved for claiming deductions:

1. Life Insurance payment receipts ( section 80C)

2. Home Loan Interest and Principal Repayment certificate from the Bank  ( section 80C)

3. Medical/Health Insurance premium payment receipts and bills of preventive health checkup (section 80D)

4. Medical bills or Doctor’s bills for claiming Medical reimbursement from your employer, if any.

5. PPF Passbook (properly updated) ( section 80C)

6. Fixed Deposit Receipt ( section 80C)

7. Equity Linked Savings Scheme Fund Statement  ( section 80C)

8. Statement of Mutual Fund if subscribed for mutual fund units ( section 80C)

9. Tuition fees receipts paid for two children ( section 80C)

10. Rent Receipts and Landlord’s Pan Number or Statement of Declaration (in case landlord is not having PAN)  if annual rent exceeds Rs.1 lac. for claiming HRA exemption

11. National Pension Scheme ( NPS)  passbook ( section 80 CCD)

12. Copy of NSC  proof (National Savings certificate) in the name of self (section  80C )

13.Copy of tickets of travel for claiming Leave Travel Allowance (LTA)

14.Donation Receipts having PAN of donee for claiming 80G exemption

15.Certificate /Proof of Interest on Education loan for claiming deduction under section 80E

16. Doctor’s prescription, certificate of government authorities etc in case of disability or severe disability for claiming exemptions under section 80DDB or 80U

17. Medical treatment and expenses receipts for treatment of handicapped dependent( section 80DD)

18. Deposit receipts of Senior Citizens Savings Scheme ( section 80C)

19. Any other tax saving investment receipts

  All these documents will be required for claiming all the tax saving benefits.The applicability of these documents would differ from person to person. One doesn’t have to attach any of the documents with the Income-tax return but preserve the same for record purpose as these are very important in case of income tax assessment or scrutiny.

Summary
Article Name
Checklist of documents required for Tax saving investments
Description
It is a good habit to maintain a file or a folder of documents required for Income-tax return filing as well as for tax saving investments. If documents are already submitted to the employer for claiming deductions and he has issued Form 16, then it may not be necessary to preserve these documents as there is already a proof. In case you are not a salaried person, then the following list of documents needs to preserved for claiming deductions:
Author
Publisher Name
myITreturn
Publisher Logo

Leave a Reply

Your email address will not be published. Required fields are marked *