The Income Tax Act, 1961 (ITA) is the primary legislation governing income tax in India. It was enacted on 1 April 1961 and has been amended several times since then. The ITA applies to all persons who are resident in India or who have income from sources in India.
The ITA provides for a progressive tax system, with the rate of tax increasing as the amount of income increases. There are a number of deductions and exemptions available, which can reduce the amount of tax that is payable.
Any person falling under the purview of the Income Tax Act, of 1961 has to pay tax on the income earned in a certain financial year.
Documents Required For ITR For Salaried Person
Form-16
Salary Slips (if any)
PAN Card
Bank statements (from 1st april to 31st march)
TDS certificates
Interest certificates from Post Offices & Banks (if any)
Tax-Savings Investment Proofs (if any)
Home Loan statement from NBFC/Bank (if any)
Capital Gains
Aadhar Card
Deductions under Section 80D to 80U (if any)
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