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Income Tax Documents Required for Smooth ITR Filing - Complete Guide

Updated: Nov 30, 2023

Welcome back to taxbuddy.com, your ultimate destination for everything related to taxes. In this blog, we will be breaking down the most essential documents of tax filing. Every taxpayer must be familiar with these documents, to know what is going on while doing their taxes with their accountants.


At taxbuddy.com we will introduce to you every taxation-related topic in the most simplified way possible so that no matter what profession you are in or whatever you do for a living, your tax preparer’s language won’t sound foreign to you. So, let the learning begin!


Your Ultimate Guide to Form 16, Form 16-A, Form 26AS, AIS, and TIS:

This guide to basic Income tax return filing documents is helpful for every adult in the country. As every one of us is/will be liable to pay taxes ultimately. So, feel free to share with your friends and family and save for your future self as well, visit taxbuddy.com to experience assisted tax filing and get expert tips tailored to your situation!


1. What is Form 16?


Form 16 is a certificate issued by an employer to an employee that summarizes the salary paid to the employee and the tax deducted at source (TDS) on the same. It is a two-part document, with Part A containing the details of the salary and TDS deducted, and Part B containing the details of the employee's investments and deductions.


Form 16 is an important document for employees, as it is used to calculate their taxable income and file their income tax returns. It is also used by banks and other financial institutions to verify the income of borrowers and investors.


FORM 16
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Download PDF • 569KB


Here are some of the key details that are included in Form 16:


· Employee's name and address

· Employer's name and address

· Period of employment

· Salary details, including basic salary, allowances, and bonus

· TDS deducted on salary, including tax deducted under various sections of the Income Tax Act

· Details of the employee's investments and deductions, such as provident fund contributions, life insurance premiums, and medical expenses.

2. What is Form 16A:


Form 16A is a certificate issued by a person or entity who deducts tax at source (TDS) on income other than salary. This includes income such as interest income, dividend income, rental income, and capital gains.


Form 16A is similar to Form 16 but is only issued for income other than salary.


FORM 16A
.pdf
Download PDF • 18KB

Form 16A contains the following information:


· The name and address of the person or entity who deducted the TDS

· The name and address of the person who received the income

· The amount of TDS deducted

· The date on which the TDS was deducted

· The section of the Income Tax Act under which the TDS was deducted


Form 16A is an important document for taxpayers who receive income other than salary. It is used to calculate their taxable income and file their income tax returns. It is also used by banks and other financial ins