There are only a few days left before the end of the 2025-26 financial years. Taxpayers need to do some work before then. You'll need to have certain documents ready for the new financial year. If you don't submit proof of investments and documents, you could face problems. Tax may be deducted from your March salary.

You must submit proof of your investments for the financial year 2025-26 now. To avoid receiving a TDS deduction this month, keep these documents handy.

Choose one of the two tax systems

Currently, two tax systems are in effect in the country: the new tax system and the old tax system. You must choose the tax system that is most beneficial to you based on your income. You may receive more exemptions under the old tax system. Submitting these documents before March is essential.

To get the tax exemption, you'll need to submit certain documents, including bank statements, mutual fund receipts, or rental agreements.

Rent receipt

Submitting house rent allowance and rent receipts are mandatory. The landlord must have a PAN number.

Investment Proof

If you're investing in LIC, PPF, or NPS, submit proof. Receipts for your children's education fees may also be useful.

Home Loan Certificate

You will need to submit a home loan certificate. An interest certificate from the bank is required to claim tax deductions on interest and principal.

Do not provide incorrect information

The income tax system is now completely digital. All your financial transactions are reported through the Annual Information Statement (AIS) and Form 26AS. Therefore, avoid providing false information. If you do provide false information, the Income Tax Department may take action.

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