Proof of income is a certificate that someone demands to verify your earnings and establish your capacity to pay. It was demanded of me by the bank when I was about to purchase a flat and applied for a home loan. I know how important it is to have income proof documents in today’s world. So let me explain about the proof of income documents.
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1) Form 16
The certificate of tax deduction at source, Form 16/ 16A, is produced when the employer deducts tax on behalf of you. These certificates describe TDS / TCS for a variety of transactions involving the deductor and the deductee. Your employer is the only one who can download and issue Form 16. You are unable to obtain a copy of your Form 16.
2) 6-month Bank Statement
A bank statement, also known as an account statement, is a document published by a bank. It details the actions in your savings or current account over the course of a given time. Bank statements allow you to keep track of your activities and accounts.
3) Latest Salary Slip
A salary slip is a document that contains a full description of the main components of your paycheck as well as personal employment information. An employer issues it once a month in the form of a printed copy or a softcopy. A pay slip should ideally include a firm logo, as well as the name and address of the company.
Proof of income for self-employed:
1) Demat Account Holding Statement
The investment returns in your account are shown on the Demat holding statement. Demat holdings or DP holdings are shares held by you as a clean amount in your beneficiary Demat account.
2) Net Worth Certificate
Chartered Accountants typically give a Net Worth Certificate. It is a statistic that reveals your or company's financial condition.
3) ITR - V Form
The ITR-V (Income Tax Return – Verification) is a form that you receive after submitting an ITR successfully. This ITR-V is commonly used as confirmation of your income. As a result, it is a crucial document.
This is your guide on the proof of income documents.
Read More: How to renew income certificate? How to download income certificate? How to check income certificate status? How to download income certificate online Tamil Nadu?Your Feedback Matters! How was this Answer?
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What qualifies as proof of income?
akhil
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2 Year
2022-06-07T18:31:14+00:00 2022-06-16T14:36:04+00:00Comment
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