Important proofs while filing IT return

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Following are some important list of the proof used for taking advantages of deductions under sec 80 C of IT act :-

1. Life Insurance Premium :

Proof-Premium payment receipt having name of the insured, sum assured and payment date.

2. Provident Fund (PF) :

Proof-Receipts of contribution in PF with details of total contribution in previous year.

3. National Saving Certificate (NSC) :

Proof-The certificate itself is the proof. Make sure that investors details are correct.

4. Fixed Deposit (FD) :

Proof-5 year FD certificate that mentions the deposits is eligible for tax sever scheme.

5. Repayment of Housing Loan :

Proof-The receipt of Principal amount paid for housing loan.

6. Pension Fund :

Proof-The receipt of sum contributed under the pension plan of Life Insurance Corporation or the pension scheme notified by Central Govt.

Apart from above mentioned proofs, the taxpayers should also keep proper records of expenses claimed under income tax and bills of various assets and products purchased. As per various stipulations, it is important for a taxpayer to keep tax records and supporting documents for at least 8 years. 

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