Which year and which forms am I preparing for?
Income earned between 1 April 2026 and 31 March 2027 is financial year (FY) 2026-27. Under the older words, the return for it is for assessment year (AY) 2027-28 and is filed in 2027. The Income-tax Act, 2025 came into force on 1 April 2026 and uses the term Tax Year 2026-27 for the same income period.
Because this is a year of transition, some documents are being renamed. Commentary on the new Act reports that the employer's salary TDS certificate, known as Form 16, becomes Form 130 for this year, and that the annual tax statement known as Form 26AS becomes Form 168. These are reports from secondary sources, and the Income Tax Department's site is the place to confirm names, due dates and the ITR forms for your return. In this guide, "salary certificate" and "annual tax statement" mean whatever the portal calls them.
Filing dates have been 31 July for salaried people with no audit, but confirm the date for the 2027 season on incometax.gov.in. The return for FY 2025-26, filed in 2026, belongs to AY 2026-27 and is a separate exercise.
What documents should I collect?
| Document | Where it comes from | What to check |
|---|---|---|
| Salary TDS certificate (Form 16 or its new name) | Employer, usually after the year ends | Gross salary, exemptions, tax deducted, employer's TAN |
| Payslips for the year | HR portal or email | Matches total in the certificate |
| Annual tax statement and AIS | Income Tax e-filing portal, after login | TDS credited, interest, dividends and securities transactions reported |
| Bank interest certificates | Banks, or net banking | Savings and FD interest for the year |
| Dividend statements | Company, registrar or broker | Amounts and TDS |
| Capital gains statement | Broker, mutual fund CAS, property documents | Buy and sell dates, cost, gain |
| Rent receipts and landlord PAN | Landlord | If you claim HRA in the old regime |
| Deduction proofs (80C, 80D, NPS, others) | Insurer, fund house, NPS statement | Amounts match what you declare |
| Home loan interest certificate | Lender | Interest and principal split |
| Donation receipts | Charity | Registration details and mode of payment |
| Previous return acknowledgement | Your records | Carry-forward losses, bank details |
| Aadhaar and PAN link, bank account details | Your records | PAN-Aadhaar link and a validated account for refunds |
Extra items depend on the case: foreign income or assets, ESOPs or RSUs, income from more than one employer, house property income, and crypto or other transfers. Each of these may need its own statement or schedule.
How do I match the numbers? A worked reconciliation
Say Neeraj is salaried in Hyderabad, and his employer's certificate shows:
| Item | Amount (₹) |
|---|---|
| Gross salary for FY 2026-27 | 14,40,000 |
| Tax deducted by employer | 1,34,400 |
Step 1. Check TDS against payslips. His payslips show ₹11,200 of tax deducted each month. ₹11,200 × 12 = ₹1,34,400. This matches the certificate.
Step 2. Check the annual tax statement for other income. The statement or AIS lists:
| Source | Amount (₹) |
|---|---|
| Savings account interest | 18,400 |
| Fixed deposit interest | 42,000 |
| Dividends | 6,300 |
| Total other income | 66,700 |
Check: 18,400 + 42,000 + 6,300 = 66,700.
None of this is in the employer's certificate, because the employer only reports salary. If Neeraj filed on the basis of the salary certificate alone, he would leave out ₹66,700 of income that the department already sees.
Step 3. Total income before deductions. ₹14,40,000 + ₹66,700 = ₹15,06,700, before standard deduction and any other deductions allowed under his chosen regime.
Step 4. If he uses the old regime, match proofs to claims. For 80C he has:
| Item | Amount (₹) |
|---|---|
| Employee EPF contribution (from payslips) | 72,000 |
| ELSS investment (fund statement) | 50,000 |
| Life insurance premium (receipt) | 28,000 |
| Total | 1,50,000 |
Check: 72,000 + 50,000 + 28,000 = 1,50,000. That equals the 80C ceiling stated in the earlier guide on the two regimes. A claim of ₹1,60,000 on these proofs would not be backed.
The point is to make sure each total on the return can be traced to a document.
What changes between the old and new regime for documents?
The old regime has more deductions and exemptions, so it needs more proofs. The new regime has a standard deduction and few others, so it needs fewer. Which one gives a lower bill is a calculation for your own numbers, and the guide on the two regimes explains it.
Even if you choose the new regime, keep your proofs. You can often choose differently each year, and an assessing officer or your employer may ask for documents later.
What if my employer's numbers and the portal differ?
It happens. Common reasons:
- The employer filed their quarterly TDS return late or with an error.
- A TAN or PAN was entered wrongly.
- You changed jobs and both employers deducted tax.
- Interest or dividends were credited but not yet reflected.
Compare totals line by line. If tax deducted per payslip is higher than the tax credited on the portal, raise it with the employer's payroll team in writing, with the payslips and the certificate. Do not file with a number you cannot trace.
What do people miss?
- Interest on savings accounts and old FDs. Small amounts add up and are reported.
- A second employer in the same year. The standard deduction and slabs apply once, not twice.
- Shares and funds sold in the year. The capital gains statement and the portal's securities section should agree.
- Rent paid without landlord PAN where required. Check the conditions for the HRA claim.
- Employer ESOPs or RSUs. They can create income and capital gains in different years.
- Wrong bank account for the refund. A refund needs a validated account.
- A return filed without verification. After filing, verify it. An unverified return is not complete.
When should I start collecting?
Documents arrive on different timelines, so starting early avoids a rush at the deadline.
| Document | Usually available |
|---|---|
| Payslips | Every month |
| Deduction proofs from insurers, funds and NPS | Through the year; employer proof-submission windows are usually in the last quarter of the year |
| Bank interest certificates | After the financial year ends |
| Salary certificate from the employer | After the year ends, once the employer files its tax returns |
| Annual tax statement and AIS | On the portal, after tax returns by deductors are processed |
| Capital gains statements | After the year ends, from brokers and CAS |
A practical rhythm is to keep a folder for the year and drop each document into it as it arrives, with a simple note of what is still missing. When all the items are in and the totals match, the return itself usually takes much less time than the search.
If you changed jobs during the year, ask the previous employer for the salary certificate early, because it is easiest to get while payroll contacts are still reachable.
What to check for your own situation
- Which regime am I likely to use, and which documents does it need?
- Do my payslips, salary certificate and the portal's tax statement match?
- Have I listed every bank, deposit and demat account that paid interest or dividends?
- Do I have capital gains statements for every sale?
- Is my PAN linked to Aadhaar, and is my bank account validated?
How this looks in Kubear
Kubear is a web app with a tax-organiser section where you record tax-year facts such as salary, tax deducted, rent paid and deduction amounts, with proof status for each. You type them or upload a document, review the draft and confirm. Kubear shows what you recorded and the arithmetic. It does not file the return or choose a regime for you.
This is general education, not personal financial, tax or insurance advice. Check forms, due dates and rules for your return on incometax.gov.in or with a qualified tax professional.