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Many of us get confused while opening the PDF downloaded/received from various government sites. The Income tax and TDS Site also contain many documents which require different type of Passwords to open the PDF downloaded/received from the respective sites. One person cannot remember all types of PDF passwords because the passwords are nearly same and contains a minor change which makes it even more confusing.
Understand the key changes in ITR forms for the AY 2018-19. Learn about the different forms and their applicability.
Those with income from salary, one house property and other sources (like interest) use the most basic one-page ITR-1 or Sahaj form. In the last assessment year, around 30 million taxpayers used this form. The form now seeks additional details of salary. The taxpayer first needs to fill up salary amount excluding allowances, perquisites, and so on.
Important changes in ITR forms for AY 2018-19: Know the details before filing your income tax returns.
Avoid penalties for delayed filing of Income Tax return for AY 2018-19 onwards. Learn about the new income tax forms and rules to stay compliant.
CBDT releases Forms Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V as applicable for Financial Year 2017-18 or Assessment Year 2018-19.
uring FY 2017-18, 6.84 crore Income Tax Returns (ITRs) were filed with the Income Tax Department as compared to 5.43 crore ITRs filed during FY 2016-17, showing a growth of 26%. There has been a sustained increase in the number of ITRs filed in the last four financial years. As compared to 3.79 crore ITRs filed in F.Y. 2013-14, the number of ITRs filed during F.Y. 2017-18 (6.84 crore) has increased by 80.5%.
Discover the importance of filing your income tax returns accurately. Avoid penalties and prosecution by submitting your financial details to the income tax department.
The returns pushed to the Assessing Officer for processing by the CPC are required to be processed electronically on the ITBA. However, in exceptional circumstances, whenever returns cannot be processed because of technical difficulties in functioning of ITBA, in order to provide an uninterrupted taxpayer service, the Assessing Officer can also manually process the return that is pushed to them by the CPC with prior administrative approval of Pr. CIT.
Dont miss the deadline! File income tax return by 31st March, 2018. Learn about the requirements and avoid penalties.