If you are gearing up to file your tax return for 2023-2024 and are not aware of the necessary documents requisite for the tax return filing, of course, a virtual tax preparer or a Poughkeepsie, NY CPA firm can help you take through the entire process. You can hire one for a tension-free tax filing. But filing on your own, you would require a last-minute checklist to follow. If you’re wondering what the checklist must constitute, this blog shall guide you!
Unveiling What A Last-minute Checklist to File Tax Return for 2023-2024 Should Constitute!
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Form 16 & Form 26AS
Form 16, the certificate demonstrating salary breakdown and TDS deductions, is a must-have to file your tax returns. Likewise, you must have Form 26AS, too. The one highlighting the details of all taxes deposited against your PAN to the income tax department from banks, employers, and other organizations!
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A Copy of Your Aadhaar
Another crucial document that your last-minute checklist should constitute is your Aadhaar card copy. Your Aadaar gives proof of your residential address, date of birth, age, and other information requisite for tax returns. Having your Aadhaar linked to your PAN can make work easier! You can verify your income tax returns with an OTP sent to the number on your Aadhaar and PAN.
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Your Rental/Foreign/Dividend Income
Remember, you need documentation for your earnings from the house and property, if any while filing ITR. Besides, if you’re earning dividends from stock investment and mutual funds, such documentation is necessary for filing tax returns. So, for your income from any foreign employer or client!
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Your Investment Proofs
Another must-have on your checklist before filing a tax return is all your investment proofs, such as interest paid on house loans, education loans or car loans, institution fee receipts, rent receipts, medical insurance, public provident fund, and so forth!
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Details of Your Capital Gains
Furthermore, you must have all records or statements of the capital you have gained selling your assets, like gold or silver, properties, equity shares, mutual fund shares, etc., to file an income tax return.
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Your Bank Account Details
No wonder it’s mandatory to submit the bank account details, like account name, number, type, bank name, and IFSC code, to file your tax return for 2023-2024. That’s what shall validate your transactions and income details. It’s also required to get the tax return amount from the income tax department. So, make sure you have it on your checklist.
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Your Passbook or Bank Statement
Last but not least, your last-minute checklist for tax return filing must have your bank statements or passbook copy. It is essential because it is what demonstrates the interest earned on your savings account and your fixed deposits.
Wrapping Up!
Perhaps having a last-minute checklist can help you fetch your tax refund easily and faster, with all information in place and verification on time!