Document Checklist for Tax Saving

Published On - January 23, 2015

admin Income Tax

The long weekend is upon us! If you are home bound and do not plan to take a getaway – use your time fruitfully collecting all the documents and receipts for your tax planning this year –
Here’s your Document Checklist for Tax Saving

  1. Medical receipts – medicines, consultations, dental bills. – To Claim your Rs 15,000 Medical Expenses Reimbursement
  2. Rent Receipts & Landlord’s PAN number – For claiming HRA exemption
  3. Updated PPF passbook photocopies – To meet Section 80C limit of Rs 1,50,000
  4. Receipts of Fixed Deposit of more than 5 years – To meet Section 80C limit of Rs 1,50,000
  5. Receipts of School fees paid for two kids – including nursery and play school receipts – To meet Section 80C limit of Rs 1,50,000
  6. Health Insurance Premium payments receipts – for claiming deduction under Section 80D
  7. ELSS purchases details, statement from the ELSS Fund – to meet Section 80C limit of Rs 1,50,000
  8. Home Loan Interest and Principal Repayment certificate from the Bank – for claiming interest on home loan deduction of Rs 2,00,000 if house is self occupied and entire interest if house is rented out.
  9. Travel Ticket Receipts – for claiming LTA exemption
  10. Bills to claim all your reimbursable expenses – such as telephone bills, car petrol bills as may be reimbursed by your employer

 
You may be claiming other deductions that you need to gather proofs for.Hope you find this checklist helpful when your employer is asking for all your receipts and documents for final tax calculations for financial year 2014-15!