House Property

If you have income from House Property then following documents required for filing the Income tax return:-

 1) Self Occupied HP:-

There is No income tax on self-occupied property, however if you have any loan against the said property then ensure to get Provisional or Actual Loan Certificate from the bank, this contains the details about the property, Loan Amount, Name of the Borrower and Co-Borrower, total amount paid to the bank and its break up towards Principal and Interest.

Amount paid towards Interest on loan can be claimed u/s 24 up to Rs 200,000/-

Amount paid towards Principal of loan can be claimed as deduction u/s 80C subject to its limit

2) Let Out HP:-

you need to provide the rental income details derived from the said property. if you have paid municipal taxes you will get deduction for the same.

3) Pan card copy

4) Aadhar card copy

5) Income Tax Filing site password

6) Bank Details viz Bank Name, Account Number, IFSC Code, Type of Account (Savings or Current)

7) Valid Email id and Mobile Number to verify return filed

After filing the income tax return, we need to verify to confirm that the return filed is filed by you, hence everification process is required to be done within 30 days of filing. This is done using Aadhar OTP or Bank EVC or by sending signed physical copy of return by normal post to CPC Bangalore.