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These documents serve as evidence and help you claim tax deductions.
You should have documents related to your investments, such as bank statements, mutual fund statements, insurance premium receipts, and fixed deposit receipts, at ready. These documents will assist you in claiming deductions under sections 80C, 80D, and 80TTA of the Income Tax Act.
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If you've taken out a home loan, you must have the documents related to the loan, including the loan agreement, loan application form, and the interest certificate issued by the lender, at ready. These documents will help you claim deductions under section 24 of the Income Tax Act.
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If you're paying rent, keep the receipts on hand. These receipts will assist you in claiming deductions under section 80GG of the Income Tax Act.
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If you've made donations to charitable organizations, keep the receipts issued by these organizations ready. These receipts will also help you claim deductions under section 80G of the Income Tax Act.
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If you've incurred medical expenses, or are actively paying for medical insurance for yourself and your family keep the bills and receipts readily available. These bills will aid you in claiming deductions under section 80D of the Income Tax Act.
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It's essential to have all the relevant documents on hand when submitting proof of investments for income tax purposes. These documents can help you claim tax deductions and ensure that your tax filing process goes smoothly.
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