What should one know about ITR registration?

In order to ensure a hassle-free income tax return filing process, there are a number of preparations that must be made before submitting. In light of this, the Indian government allows taxpayers enough time to gather supporting documentation, such as bank statements, pay stubs and other income information, tax returns from prior years, etc.

What documents are required for the same?

Selecting the appropriate ITR form

Documents pertaining to interest income, Form 26AS, Section 80, Investments;

Additionally, if the applicant is an employee, the following documents are required:

PAN Form-16 from your employer

Salary slips broken down by month

Do documents have to be produced to file returns?

Presenting documentation when submitting tax returns is typically not necessary. Generally, the submission of documents is only necessary in the event that the tax authorities select the return for examination. In these situations, the documents can be uploaded via the e-proceedings tab of the Income Tax Portal.

Conclusion: You usually need to provide particular bank information, such as your account number, IFSC code, and bank name, when filing your income tax return (ITR). But in other cases, such as when figuring up interest income or other money credited to your bank account, you might need a bank statement. The bank statement facilitates the precise reporting and evaluation of these revenue streams.