Tax Filing Readiness Checklist for FY 2024–25 for Individuals (Resident and Non-Resident) in India:

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Tax Filing Readiness Checklist for FY 2024–25 for Individuals 

(Resident and Non-Resident) in India:


✅ I. Personal Information Verification

  • PAN and Aadhaar linked and active.

  • Correct residential status determined for FY 2024–25.

  • Valid contact details (email ID, mobile number) updated in the Income Tax e-filing portal.

✅ II. Document Collection

  • Form 16 (if salaried) from all employers.

  • Form 16A for TDS on interest, rent, commission, etc.

  • Annual Information Statement (AIS) & Form 26AS downloaded and reviewed for:

    • Income reported (salary, interest, dividends, capital gains, etc.)

    • TDS/TCS credits

    • High-value transactions

✅ III. Income Reporting

  • Salary Income: Verify from Form 16 and AIS.

  • House Property: Rental income, housing loan interest, property taxes.

  • Capital Gains: Sale of property, shares, mutual funds—reconcile with broker statements.

  • Business/Professional Income (if applicable): Books of accounts, presumptive taxation applicability.

  • Other Sources: Interest, dividends, lottery, etc.

✅ IV. Deductions & Exemptions (Chapter VI-A)

Ensure proper documentation for:

  • Section 80C: LIC, PPF, NSC, ELSS, Home loan principal, Tuition fees.

  • Section 80D: Health insurance premium.

  • Section 80G: Donations with receipt and 80G certificate.

  • Section 80E: Interest on education loan.

  • Section 80TTA/80TTB: Interest on savings account/FD (for senior citizens).

  • Section 80EE/80EEA: Additional interest on affordable housing loans.

✅ V. TDS/TCS and Advance Tax Verification

  • Match TDS credits from AIS/26AS with personal income records.

  • Verify if any advance tax liability exists and was paid as per schedule:

    • 15th June: 15%

    • 15th Sep: 45%

    • 15th Dec: 75%

    • 15th Mar: 100%

  • Pay Self-assessment tax if any shortfall exists before filing return.

✅ VI. Foreign Income & Assets (for Residents)

  • Report foreign income and assets, bank accounts, and directorships in foreign companies.

  • File Schedule FA if applicable.

✅ VII. Capital Gains Calculation & Set-off

  • Short-term and long-term capital gains computation.

  • Losses carried forward from previous years utilized appropriately.

  • Deductions/exemptions (e.g., u/s 54, 54F, 54EC) claimed with documents.

✅ VIII. Other Key Information

  • Bank account details for refund.

  • Rebate u/s 87A eligibility 

  • Old vs. New tax regime selection as per benefit.

✅ IX. Return Filing Process

  • Choose correct ITR form (based on income source and status).

  • Verify ITR before submission.

  • E-verify ITR using Aadhaar OTP, net banking, or DSC.

  • Track return and refund status post-filing.

✅ X. Post-Filing Compliance

  • Maintain copies of filed ITR, computation, and documents for 7 years.

  • Respond to any communication from Income Tax Department promptly.


Professional consultation is essential for proper implementation and compliance adherence.

About the Author CA Sukannya Siingh (Patankar),Pune

| 12+Years Experience

Specialization: Income Tax Advisory, NRI Taxation, HUF Structuring, Business Setup

Contact:+91-9921010284

Website: www.eaztaxbiz.com

This analysis is based on current tax laws and judicial precedents. Consult your tax advisor for personalized advice.



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