Your bank statement is crucial for accurate Income Tax Return filing. This guide covers everything you need to know.
Income Verification Salary credits Freelance payments Interest income Rental income Capital gains
Deduction Claims Section 80C investments (PPF, ELSS, LIC) Health insurance (Section 80D) Education loan interest (Section 80E) Donations (Section 80G)
For Salaried Individuals 1. Salary credit entries (match with Form 16) 2. Interest earned (for savings account) 3. Investment transactions (80C proof)
For Business/Freelancers 1. All income deposits 2. Business expenses 3. GST payments 4. TDS deductions
Source Bank Statement Form 26AS Salary Credit entries TDS by employer FD Interest Interest credits TDS by bank Freelance Client payments TDS by clients