itr 1

Changes in Form ITR -1 for AY 2020-21

Income Tax - Central Board for Direct Taxes CBDT has come up with some changes in ITR Forms for AY 2020-21 like every year. Now taxpayers are requested to answer some more questions of high value transactions like deposits in current accounts more than 1 crore, electricity bills aggregating of more than 2 lakhs, etc., Changes in Form […]...

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Applicable ITR for Assessment Year 2020-21

Income Tax - It is advised to choose the correct ITR form in order to avoid further notice of defective return. Following forms below gives you insight to file correct ITR form as per Nature of Income and Status of person A.Y. 2020-21: ITR 1: (SAHAJ) 1. Resident Individual whose total income does not exceed 50 lakhs can […]...

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Unlock New ITR-1 Sahaj

Income Tax - The CBDT had notified the New Income Tax Return Form 1 to Form 7 for the assessment year (AY) 2020-21. However, in this article we are going to discuss in details about ITR-1 (Sahaj), including the key changes made in ITR 1 for AY 2020-21. Income tax return filing is currently available only for those […]...

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Applicability of Income Tax Return (ITR) 1, 2 & 4

Income Tax - Who Can File ITR 1? -Resident Individuals & HUF can File this form. -Having Income from Salary or Pension, Other Income like Bank Interest, interest from IT Refund, Agricultural income up to Rs.5000/. –Income from one House Property. -Income from the above shall not exceed Rs. 50 Lakhs for filling this Form. Who can not [&hellip...

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Know Which Income Tax Form is applicable to whom for AY 2020-21

Income Tax - CA Kaushik Mahendrabhai Makwana Due to Covid-19, as we are aware that the Government of India is taking various major steps to recover our economy. Simultaneously, the Government of India has provided relief measures, some of which, are as under: – Due date for filing the return of income for all taxpayers has been extended [&hellip...

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Instructions for filling ITR-1 SAHAJ for A.Y. 2020-21

Income Tax - These instructions are guidelines to help the taxpayers for filling the particulars in Income-tax Return Form-1 for the Assessment Year 2020-21 relating to the Financial Year2019-2020. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962....

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ITR 1, 2, 3 & 4 for AY 2020-21 are available for e-Filing

Income Tax - ITR 1, ITR 2, ITR 3 & ITR 4 for AY 2020-21 are available for e-Filing. Other ITRs will be available shortly. Please read the instruction given above before start downloading and using the ITR utility for for AY 2020-21. The utility by default will get downloaded in your system “download” folder in a compressed […]...

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ITR 1, 2, 3, 4, 5, 6 & 7 for AY 2019-20 are available for e-Filing

Income Tax - Excel / Java Utility for ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 for AY 2019-20 / FY 2018-19 are available for e-Filing. Update on 08/07/2019 All Income Tax Return Preparation Software for AY 2019-20 are now available for e-Filing. Update on 04.06.2019 ITR 7 For persons including […]...

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Download Sahaj (ITR 1), 2, 3, Sugam (ITR-4), 5, 6, 7 for A.Y. 2018-19

Income Tax - CBDT has vide notification No.16/2018 dated: 03rd April 2018 released ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4-Sugam, ITR-5, ITR-6, ITR-7 and Acknowledgement- ITR-V for Assessment Year 2018-19 / Financial Year 2017-18 and Same can downloaded in PDF Format (Return Filing Utilities are also expected to be released soon) from the links given below:-...

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Download e-Filing utility for ITR 1 & ITR 4S for AY 2016-17

Income Tax - In a Record and following Punjab High Court Direction in the case of Vishal Garg & Ors. Vs. Union of India & Anr. CBDT has first released ITR for A.Y. 2016-17 on 30/03/2016 vide Notification No. 24/2016 and now it further releases Online e-filing utility for the following ITR Forms :- Link to Download all […]...

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AO deemed to have applied his mind if facts are on record

CIT, Delhi Vs. M/s. Kelvinator of India Limited (Supreme Court of India) - In CIT Vs Kelvinator of India Ltd. 256 ITR 1 the Full Bench of the Delhi High Court was considering a case of reopening u/s 147 within 4 years from the end of the assessment year. The Court held that when a regular order of assessment is passed in terms of section 143 (3) of the Act, a presumption c...

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ITR (Income Tax Return Forms) 1 to 7 for AY 2020-21 notified

Notification No. 31/2020-Income Tax [G.S.R. 338(E)] - (29/05/2020) - CBDT notifies Form ―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 for Assessment Year 2020-21 i.e. financial Year 2019-20. Also Read- Rule 12 of Income Tax Rules wef 29.05.2020 | ITR | AY 2020-21 MINISTRY OF FINANCE (Department of Reve...

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CBDT relaxes eligibility for filing ITR Form-1 (Sahaj) & Form-4 (Sugam)

NA - (09/01/2020) - It has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions....

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CBDT releases Form Sahaj (ITR-1) and Sugam (ITR-4) for A.Y. 2020-21

Notification No. 01/2020-Income Tax [G.S.R. 9(E)] - (03/01/2020) - CBDT vide Notification No. 01/2020-Income Tax has released Format of Revised Form Sahaj (ITR-1) and Sugam (ITR-4) as applicable for Assessment Year 2020-2021 and also added a new proviso to Income Tax Rule 12 and provided who cannot file Form Sahaj (ITR-1) and Sugam (ITR-4) for A.Y. 2020-21. MINISTR...

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ITBA Functionality to Rectify ITR 1 to 6 for A.Y. 2017-18 Launched

ITBA- Rectification Instruction No.5 - (28/06/2019) - The functionality for rectification of processing u/s 143(1) of ITR 1,2,3,4,5, & 6 for A.Y. 2017-18 is now made available in Income Tax Business Application (ITBA). All the steps for initiating, working on the rectification proceedings and passing of rectification Order will be same as described in ...

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CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19

Notification No. 32/2019-Income Tax [G.S.R. 279(E)] - (01/04/2019) - CBDT notifies Form 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 for A.Y. 2019-20 / F.Y. 2018-19 vide Notification No. 32/2019 dated 1st April, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notificatio...

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Recent Posts in "itr 1"

Instructions for filling ITR-1 SAHAJ for A.Y. 2020-21

These instructions are guidelines to help the taxpayers for filling the particulars in Income-tax Return Form-1 for the Assessment Year 2020-21 relating to the Financial Year2019-2020. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962....

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Posted Under: Income Tax |

Changes in Form ITR -1 for AY 2020-21

Central Board for Direct Taxes CBDT has come up with some changes in ITR Forms for AY 2020-21 like every year. Now taxpayers are requested to answer some more questions of high value transactions like deposits in current accounts more than 1 crore, electricity bills aggregating of more than 2 lakhs, etc., Changes in Form […]...

Read More
Posted Under: Income Tax |

Applicable ITR for Assessment Year 2020-21

It is advised to choose the correct ITR form in order to avoid further notice of defective return. Following forms below gives you insight to file correct ITR form as per Nature of Income and Status of person A.Y. 2020-21: ITR 1: (SAHAJ) 1. Resident Individual whose total income does not exceed 50 lakhs can […]...

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Posted Under: Income Tax |

ITR 1, 2, 3 & 4 for AY 2020-21 are available for e-Filing

ITR 1, ITR 2, ITR 3 & ITR 4 for AY 2020-21 are available for e-Filing. Other ITRs will be available shortly. Please read the instruction given above before start downloading and using the ITR utility for for AY 2020-21. The utility by default will get downloaded in your system “download” folder in a compressed […]...

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Posted Under: Income Tax | ,

Unlock New ITR-1 Sahaj

The CBDT had notified the New Income Tax Return Form 1 to Form 7 for the assessment year (AY) 2020-21. However, in this article we are going to discuss in details about ITR-1 (Sahaj), including the key changes made in ITR 1 for AY 2020-21. Income tax return filing is currently available only for those […]...

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Posted Under: Income Tax |

Applicability of Income Tax Return (ITR) 1, 2 & 4

Who Can File ITR 1? -Resident Individuals & HUF can File this form. -Having Income from Salary or Pension, Other Income like Bank Interest, interest from IT Refund, Agricultural income up to Rs.5000/. –Income from one House Property. -Income from the above shall not exceed Rs. 50 Lakhs for filling this Form. Who can not [&hellip...

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Posted Under: Income Tax |

Know Which Income Tax Form is applicable to whom for AY 2020-21

CA Kaushik Mahendrabhai Makwana Due to Covid-19, as we are aware that the Government of India is taking various major steps to recover our economy. Simultaneously, the Government of India has provided relief measures, some of which, are as under: – Due date for filing the return of income for all taxpayers has been extended [&hellip...

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Posted Under: Income Tax |

Changes In ITR Form-1 (Sahaj) Notified For AY 2020-21

Central Board of Direct Taxes (CBDT) has notified the Income-tax Return Form-1 applicable for the Assessment Year (AY) 2020-21 vide Notification No. 31/2020 dated- 29th May, 2020. The applicability and Changes in the ITR Form is as under: Applicable For individuals being a resident (other than not ordinarily resident) having total income ...

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Important Changes & Requirements for filing ITR for AY 2021-22

All Assessees are now required to file their Returns online except Super Senior Citizens are given option to submit Return in paper mode provided the Computation does not have any income chargeable under head of Profits and Gains from Business or Profession. Changes in the ITR Requirements The New ITR Forms have been notified vide [&helli...

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ITR 1-Sahaj for F.Y. 2019-20 (A.Y. 2020-21)

In this article we will discuss about the Sahaj (ITR- 1), its applicability and new changes in Sahaj (ITR- 1) which are appliable to A.Y. 2020-21....

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Important changes in ITR-1 Form for A.Y. 2020-21

Here in this article only ITR-1 has been discussed as to its applicability, new changes made in the forms and other matters requiring consideration before filing the ITR. Most of the salaried assessees  file their Income Tax Return in ITR-1....

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Review of Form ITR-1 SAHAJ (AY 2020-2021)

Article explains list of IT Forms notified for FY 2019-20, Applicability of ITR-1 Sahaj for FY 2019-20, Illustrative list of assessees who are not allowed to submit Form ITR-1 Sahaj for FY 2019-20, Significant changes in ITR-1 (SAHAJ) for FY 2019-20 and Summary of stringent disclosure requirements in ITR-1 (SAHAJ) for FY 2019-20. The Cent...

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Last minute checklist for filing of ITR 1 of Financial Year 2019-20

ITR-1 form for A.Y. 2020-21 released for e-filing by Income Tax Department. What is Income Tax Filing Process? Income Tax Filing is the process of declaring your taxable income, deductions and tax payments for the applicable financial year. What is the due date for ITR Filing for A/Y 2020-21? The last date for filing tax […]...

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Which ITR applicable to whom for FY 2019-20/AY 2020-21

Brief on Applicability of Income tax return (ITR) form for Financial Year (FY 2019-20)/Assessment Year (AY) AY 2020-21 All the taxpayers are mandatorily required to file their ITRs electronically except individuals over the age of 80 years who have the option of filing the ITR in paper format as well. First step would be to […]...

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Key additions in new ITR-1 – Now available for E-filing

Key additions in newly notified income tax return form – 1 (ITR-1) – now available for E-filing At income tax portal Recently, the government (CBDT) notified the revised Income Tax Return Forms (ITR) for the financial year 2019-20 (A/Y 2020-21). Today i.e. on 2nd of June, 2020, just after 2 days of the said notification, […]...

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ITR wise changes in Income Tax Return Forms – AY 2020-21

The most awaited moment for all the chartered accountants is here. Finally, the CBDT has released all the Income Tax Return (ITR) forms for AY 2020-21 / FY 2019-20. Every year we are waiting for these forms to release so that we can start our workings and data collating work from client, according to the […]...

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Six key changes in ITR forms for FY 2019-2020 (AY 2020-2021)

The CBDT has notified the Income Tax Returns (ITR Forms i..e. ITR 1 to ITR 7) for the FY 2019-2020 (AY 2020-2021)  vide Notification No. 31/2020-Income Tax Dated- 29/05/2020, which became effective from 30th May, 2020. Glad to see this notified a day before than what the department committed. Six key changes in newly notified […]...

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ITR New Forms Changes for Financial Year 2019-20

New ITR Forms Changes for Financial year 2019-20 CBDT has issued new ITR form for Financial year 2019-20. There are few additional disclosures which a taxpayer needs to make as compared to last year. Following additional disclosures has been made applicable for Assessment Year 2020-21 in new ITR Forms 1. Deductions Details from 01/04/2020...

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Form ITR-1 Sahaj – AY 2020-21 | Applicability & Additional Disclosures

CBDT has notified new ITR form for AY 2020-21 vide notification No. 31/2020 dated 29.05.2020. This article explains Form ITR-1 Sahaj Applicability and additional disclosure required compared to previous year Form ITR-1. This Form ITR-1 Sahaj can be filed by an individual resident (other than not ordinarily resident) having total income up...

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6 key changes in ITR forms for the AY 2020-2021

Income Tax Returns Forms 1 to 7 for A/Y 2020-21 Notified. 6 key changes in ITR forms for the AY 2020-2021: 1. Passport One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other […]...

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Rule 12 of Income Tax Rules wef 29.05.2020 | ITR | AY 2020-21

Taxguru Team compiled the Rule 12 of Income Tax Rules based on the RECENT amendment in rule 12 vide Notification No. 01/2020-Income Tax dated 3rd January, 2020 and Notification No. 31/2020-Income Tax dated 29.05.2020 for ready reference of our readers. Changes are Marked in Red Coloure. Revised Rule 12 of Income Tax Rules are applicable [...

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ITR (Income Tax Return Forms) 1 to 7 for AY 2020-21 notified

Notification No. 31/2020-Income Tax [G.S.R. 338(E)] (29/05/2020)

CBDT notifies Form ―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 for Assessment Year 2020-21 i.e. financial Year 2019-20. Also Read- Rule 12 of Income Tax Rules wef 29.05.2020 | ITR | AY 2020-21 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) [&h...

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For whom e-filing of Income Tax Return (ITR) is Mandatory

People are always get confused as to who all are require to file Income tax Return mandatorily. Since our assessment year 2020-21 has been started and now all will be geared up for filing their income tax return. Hence today I am covering this topic. Following taxpayers shall file their return of income only through […]...

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Benefits of Filing Income Tax Return by Different Classes of Assessees

Though as a Company or a Firm you are required to file a return irrespective of whether you have income or losses. In cases where a person (an individual) has Loss under the head ‘Income from House Property’ or loss under the head ‘ Profits & Gains of Business or Profession’ ‘Capital Gains’ or losses from ‘Income from Other ...

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CBDT relaxes conditions of filing of ITR I & ITR-4 for AY 2020-2021

The CBDT relaxed eligibility conditions related to filing of ITR Form-1 and ITR Form-4 for Assessment Year 2020-2021. For ensuring that the e-filing utility for filing of return for the assessment year 2020-2021 is available as on 1st April 2020, the Income-tax Return (ITR) Forms ITR-1 (Sahaj) as well as ITR-4 (Sugam) for the assessm...

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Key Changes in ITR Forms 1 & 4 for Assessment Year 2020-21

The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) Forms 1 and 4 for the Assessment Year 2020-21. These ITR Forms will be applicable for filing of Income-tax return in respect of income earned during the previous year 2019-20 (between 01-04-2019 to 31-03-2020)....

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Notice u/s 143(1) for any deduction/allowance in ITR which was not considered in Form 16/16A

This amendment is going to hit hard for those Income Tax Assessee’s (Majorly Salaried Employees) who used to make manipulative claims of allowances (LTA, medical, HRA etc) or deductions (Section 80C, 80D) in Return of Income and claims refund of TDS deducted from Salary....

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Major Rollback by CBDT in respect of very first notification of Year 2020

Within days after notifying the New ITR Forms, CBDT vide a Press release dated 09.01.2020 has rolled back the non-applicability clauses which were inserted through Notification 01/2020 dated 03.01.2020 by amending Rule 12 of the Income-tax rules, 1962. This gives a major relief to taxpayers who jointly own House property or to those High ...

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CBDT relaxes eligibility for filing ITR Form-1 (Sahaj) & Form-4 (Sugam)

NA (09/01/2020)

It has been decided to allow a person, who jointly owns a single house property, to file his/her return of income in ITR-1 or ITR-4 Form, as may be applicable, if he/she meets the other conditions....

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6 key changes in ITR-1 for financial year 2019-20- You need to know

The Income Tax department has notified the Income tax Return (ITR) Forms for F.Y. 2019-20 on January 3, 2020. Here’s a list of the 6 key changes introduced in the ITR1 for financial year 2019-20. ♦ Passport details In this year’s ITR-1, taxpayers will have to provide their passport number (if they have one). This […]...

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Major changes in new ITR forms released by CBDT for A.Y. 2020-2021

The Central Board of Direct Taxes (CBDT) has recently notified two Income Tax Return (ITR) forms for the assessment year 2020-21. Usually, the tax department issues new ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old tradition, it has notified two ITR forms ITR-1 and […]...

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Analysis of revised ITR-1 (Sahaj) & ITR-4 (Sugam) for AY 2020-21

Analysis of CBDT Notification 01/2020 Revised format of ITR-1 and ITR-4 for FY 19-20 notified!! ITR Forms which usually are issued somewhere around in the first week of April of the relevant Assessment Year, this time have been issued on 3rd January itself!! [Only ITR-1(Sahaj) & ITR-4(Sugam)] The very reason for the same is the [&hell...

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Download Form Sahaj (ITR-1) for A.Y. 2020-21

CBDT has released Form Sahaj (ITR-1) for A.Y. 2020-21 format for Assessment Year 2020-21 i.e. for Financial year 2019-20 vide Notification No. 01/2020-Income Tax dated 3rd January, 2020 Sahaj (ITR-1) for A.Y. 2020-21 is applicable For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, ha...

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CBDT releases Form Sahaj (ITR-1) and Sugam (ITR-4) for A.Y. 2020-21

Notification No. 01/2020-Income Tax [G.S.R. 9(E)] (03/01/2020)

CBDT vide Notification No. 01/2020-Income Tax has released Format of Revised Form Sahaj (ITR-1) and Sugam (ITR-4) as applicable for Assessment Year 2020-2021 and also added a new proviso to Income Tax Rule 12 and provided who cannot file Form Sahaj (ITR-1) and Sugam (ITR-4) for A.Y. 2020-21. MINISTRY OF FINANCE (Department of Revenue) (CE...

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Types of Income Tax Return forms

ITR-1 (Sahaj) Applicable to : Resident Individual having total income upto Rs. 50 Lakh and where the income includes:- 1. Salary/Pension/Family Pension (excluding claim of deduction u/s 57) 2. Income from only one House property (excluding brought forward loss or loss to be carried forward on HP) 3. Income from other sources (excluding wi...

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Key Changes In ITR-1 And ITR-2 Forms For FY 2018-19

The income tax return (ITR) forms for FY 2018-19 notified by the government are different from those used to file the previous year’s returns, keeping the changes in income tax laws made in Budget 2018 for FY 2018-19 and onwards. Apart from that, there are other changes as well in the ITR forms which you […]...

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ITR 1, 2, 3, 4, 5, 6 & 7 for AY 2019-20 are available for e-Filing

Excel / Java Utility for ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 & ITR 7 for AY 2019-20 / FY 2018-19 are available for e-Filing. Update on 08/07/2019 All Income Tax Return Preparation Software for AY 2019-20 are now available for e-Filing. Update on 04.06.2019 ITR 7 For persons including […]...

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Overview of ITR Forms for filing Income Tax Return for AY 2019-20

ITR-1 – General guidelines for filing ITR-1 for AY 2019-20 For Individuals being a Resident (other than Not Ordinarily Resident) having Total Income upto Rs.50     lakhs, having Income from Salaries, One House Property, Other Sources (Interest etc.), and Agricultural Income up to Rs.5 thousand(Not for an Individual who is either...

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Know Additional Details Introduced in ITR forms for A.Y. 2019-20

The Central Board of Direct Taxes (CBDT) has introduced some changes— particularly more detail seeking disclosures in the new income tax return (ITR) forms for the assessment year 2019-20 to curb tax evasion and wipe out the loopholes. Considering the revamps and penal clauses for late filing, one should start the process of filing ASAP...

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Key Changes in ITR Form for A.Y 2019-20

Key changes in ITR forms for A.Y. 2019-20 and new disclosures ♣ All the taxpayers are mandatorily required to file their ITRs electronically except individuals over the age of 80 years who have the option of filing the ITR in paper format as well ♣ Recently, the Indian government has notified new tax return forms […]...

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ITBA Functionality to Rectify ITR 1 to 6 for A.Y. 2017-18 Launched

ITBA- Rectification Instruction No.5 (28/06/2019)

The functionality for rectification of processing u/s 143(1) of ITR 1,2,3,4,5, & 6 for A.Y. 2017-18 is now made available in Income Tax Business Application (ITBA). All the steps for initiating, working on the rectification proceedings and passing of rectification Order will be same as described in ITBA Rectification Instruction No.3 date...

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Step-by-step guide for a salaried person to file income tax return

Salaried individuals can file income tax returns (ITR) using the forms ITR-1 or ITR-2. ITR-1 applies to individual resident taxpayers with a total income of up to Rs 50 lakhs. Whereas, ITR-2 applies to other individual taxpayers who do not have income from business or profession. ITR-1 can be used to report income from salary, […]...

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Which ITR Form to use for Assessment year 2019-20

CBDT has already released new ITR Forms. One can file the ITR now. While, Individuals are due to file their ITR by 31st July. Corporate entities are to file by 30th September. The big question is which form should one use according to their status, income level, sources of income etc. Here, we discuss about […]...

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Changes in ITR Forms Applicable For AY 2019-2020

Now, the time has come for filling the Income Tax Returns for AY 2019-20.  So, before starting the same it is important to know the changes the Income tax department has made in the IT forms. CBDT has notified new ITR Forms vide Notification No. 32/2019 dated 1st April, 2019. The details regarding each form […]...

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Master guide on Requirements of ITR Filing for A.Y. 2019-20

Download below Presentation on Requirements of ITR Filing The new Returns for filing has been notified and enabled for filing for the Assessment Year 2019-20. The presentation covers the changes in the Finance Act for reporting of Income as well as new requirements for filing of Return of Income. Glance of General Changes of Income Expan...

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Changes in ITR Forms for A.Y 2019-20

The Income-tax Department has notified ITR Forms for A.Y 2019-20. The forms introduced seek more details as compared to previous years. Below is a list of changes brought in ITR Forms in simplified form including additional details required under each category of taxpayer. Also Read- CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19 and [...

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All about filing of ITR-1 SAHAJ for A.Y. 2019-20

These instructions are guidelines to help the taxpayers for filling the particulars in Income-tax Return Form-1 for the Assessment Year 2019-20 relating to the Financial Year 2018-19. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1 961 and the Income-tax Rules, 1962....

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ITR Forms for AY 2019-20 New Changes & Additional information

​The CBDT has notified new ITR forms vide notification no. 32/2019 dt. 1st April 2019. The New IT return forms notified vide above mentioned notification has been made applicable for the FY 2018-19 and new changes/additional information required will not only bring more transparency but also help in automatically validating or cross-che...

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New Format of Form 16 & Form 24Q in line with changed ITR-1

New Format of Form 16 (TDS Certificate) & Form 24Q (e_TDS Return) in line with Changed Income Tax Form ITR – 1 The CBDT has recently made changed in the Form 16 & Form 24Q vide notification Dated April 12, 2019 which will be effective from May 12, 2019. Looking at the due date for […]...

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Changes in ITR 1 for FY 18-19

As we have entered into the New financial year i.e. 2019-20, the Govt. has released new ITR Forms for return filing for FY 2018-19. Till date, Income tax department has released ITR 1 and ITR 4 forms (available on Income tax portal for filing). Here, we will discuss the changes in Form ITR-1 as compared to the last year. […]...

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New ITR Forms & Changes in Particulars to be furnished

The New IT return forms has been made applicable for the FY 2018-19 and new changes/additional information required will not only bring more transparency but also help in automatically validating or cross-checking the income and other details that the tax authorities may have from other sources....

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ITR Forms For Assessment Year 2019-2020- All you want to know

New ITR Forms For Assessment Year 2019-2020 Vide notification dated 1st April, 2019, the CBDT has introduced Income Tax (Second Amendment) Rules, 2019. Vide the said notification the CBDT has notified Income Tax Return (ITR) Forms for the Assessment Year 2019-2020 (Financial year 2018-2019). In total 7 types of Income Tax Return Norms are...

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New ITR forms for FY 2018-19-What has changed

The ITR forms for each year are notified after end of the financial year incorporating changes applicable from the relevant financial year. The Income tax department has notified new ITR forms on 1st April 2019. Since this is a personal finance page, the discussion is restricted to provisions of new ITR which are applicable to […]...

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Rule 12 of Income Tax Rules wef 1st April 2019 related to ITR of AY 2019-20

Taxguru Team compiled the Rule 12 of Income Tax Rules based on the RECENT amendment in rule 12 vide Notification No. 32/2019-Income Tax Dated 01/04/2019 for ready reference of our readers. Changes are Marked in Red Coloure. Rule 12 of Income Tax Rules as applicable from 01st April 2019 i.e. for Income Tax Return of Assessment […]...

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Quick Analysis of Income Tax Forms Released for AY 2019-20

CBDT vide notification No. 32/2019 dated 1st April 2019 amended the Income Tax Rules 1962 and added certain clauses to Rule 12 and released Income Tax Return Form 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 return filing of Financial Year 2018-19 / Assessme...

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CBDT notifies ITR for A.Y. 2019-20 / F.Y. 2018-19

Notification No. 32/2019-Income Tax [G.S.R. 279(E)] (01/04/2019)

CBDT notifies Form 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 for A.Y. 2019-20 / F.Y. 2018-19 vide Notification No. 32/2019 dated 1st April, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 32/2019 New Delhi, the 1st April, ...

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Guide to know ITR applicable: Which ITR Applicable to whom?

In this article we have discussed which ITR is applicable for a Particular Assessee for Assessment Year 2018-19 i.e. for Financial Year 2017-18. ...

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Which ITR form to be used

Different forms are required to be used for filing your ITR depending on whether you are a resident or not and what are the sources of your income. There are ITR 1, ITR 2, ITR 3 and ITR 4 which can be used by individuals. Who can use ITR 1 (popularly known as Sahaj.): This […]...

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Know your Income tax form- ITR-1

WHAT IS ITR 1? ITR-1 form is the simplest one-page form which should be filed by individuals having an income up to Rs. 50 lakhs. This income can be from the following sources: (a) Income from Salary/ Pension; or (b) Income from One House Property (c) Income from Other Sources DETAILS REQUIRED IN ITR-1 FORM […]...

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31st March 2018: deadline for filing belated returns….Really!!!!!!!

Income Tax Department declared March 31, 2018 as deadline for filing belated returns for the financial year 2015-16 and 2016-17. In case you haven't filed your ITR for FYs 2015-16 and 2016-17, you cannot file a belated return anymore....

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Income Tax Returns by Individual and HUF for Financial year 2017-18

Financial Year 2017-18 has ended and due date filing of Income Tax Return is fast approaching. Income Tax Department has notified total 4 forms for Individuals and HUF. This article tries to unfold each of the form and to ensure easy understanding of the same....

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New ITR Forms – Changes Applicable for AY 2018-19

1. Changes in ITR 1 Applicable for A.Y. 2018-19 This from has been made applicable only for resident individuals. Conditions: Income from salaries, one house property, other income and having total income up to Rs.50 lakhs and his total income should not include any income from betting, gambling, etc. There is a requirement to furnish a ...

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Instructions for filing Sahaj (ITR-1) for A.Y. 2018-19

Article contains Instructions for filing ITR-1 -SAHAJ for Assessment Year 2018-19 / Financial Year 2017-18 based on ITR Released by CBDT vide its notification no. Notification No. 16/2018-Income Tax / G.S.R. 332(E) dated: 03/04/2018.  Instructions for filling ITR-1 SAHAJ for A.Y. 2018-19 General Instructions These instructions are guidel...

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Changes In ITR 1 (Sahaj) For AY 2018-19

Following are the changes made by the Government to file ITR for the assessment year 2018-19: In the past ITR i.e. till AY 2017-18 only one taxable figure was to be reported under the head salary, but ITR forms for AY 2018-19 require the assessee to report the break-up of salary earned during the previous […]...

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Changes in Income Tax Return (ITR) Forms for AY 2018-19 and Applicability

The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) Forms applicable for the Assessment Year 2018-19. The new forms incorporate the changes made by the Finance Act, 2017 in the Income-tax Act, 1961. It is apparent that the new ITR Forms have shifted the entire onus on the taxpayers to prove their claim for de...

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Changes in ITR-1 to 6 for Financial Year 2017-18 / AY 2018-19

Article discusses changes in ITR 1, ITR 2, ITR 3 , ITR 4 Sugam, ITR 5 and ITR 6 as released by CBDT for Financial Year 2017-18 / Assessment Year 2018-19 vide these changes CBDT has ensured more disclosures from Assessee regarding GST, Financial Particulars, Depreciation, ICDS, Late Fees U/s. 234F, Income from Other Sources, […]...

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Who can use ITR 1, ITR 2, ITR 3 and ITR 4 Sugam for A.Y. 2018-19

Article discusses who can use ITR 1 (SAHAJ), ITR 2, ITR 3 and ITR 4 Sugam Form for Assessment Year 2018-19 or Say Financial Year 2017-18....

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Important Changes in ITR-1 of FY 2017-18

The most popular one pager Income Tax return (ITR-1 Sahaj) is continued by the CBDT this year also vide notification no. 16/2016 dated 03rd April 2018.  But there are certain changes regarding eligibility to file this return as well contents of this return which are as under. 1. This year (AY 2018-19 FY 2017-18), only […]...

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New IT Return Forms – Gist of Changes introduced

CBDT has released the new income tax return forms for filing returns for the financial year (FY) 2017-18 i.e. assessment year (AY) 2018-19. The gist of the changes introduced by the CBDT is as under:...

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7 things to know about new ITR Forms for A.Y. 2018-19

Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19 vide notification no. 16/2018 dated 03rd April 2018. Few points to be noted about new ITR are as follows:- 1. Simplified one page ITR Form-1 (Sahaj) can be filed by an individual who is resident other than […]...

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Download Sahaj (ITR 1), 2, 3, Sugam (ITR-4), 5, 6, 7 for A.Y. 2018-19

CBDT has vide notification No.16/2018 dated: 03rd April 2018 released ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4-Sugam, ITR-5, ITR-6, ITR-7 and Acknowledgement- ITR-V for Assessment Year 2018-19 / Financial Year 2017-18 and Same can downloaded in PDF Format (Return Filing Utilities are also expected to be released soon) from the links given below:-...

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Instructions for filing ITR-1 SAHAJ for AY 2016-17

Who can use this Return Form- This Return Form is to be used by an individual whose total income for the assessment year 2016-17 includes:- (a) Income from Salary/Pension; or (b) Income from One House Property (excluding cases where loss is brought forward from previous years); or (c) Income from Other Sources (excluding winning from lott...

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Download e-Filing utility for ITR 1 & ITR 4S for AY 2016-17

In a Record and following Punjab High Court Direction in the case of Vishal Garg & Ors. Vs. Union of India & Anr. CBDT has first released ITR for A.Y. 2016-17 on 30/03/2016 vide Notification No. 24/2016 and now it further releases Online e-filing utility for the following ITR Forms :- Link to Download all […]...

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Commencement of Electronic filing of Income Tax Returns for AY 15-16

The Income Tax Department has released the software for preparing the Income Tax Return forms 1- SAHAJ, 2, 2A and 4S- SUGAM for AY 2015-16. The e-filing of these return forms has been enabled on the e-filing website- https://incometaxindiaefiling.gov.in/...

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Changes in ITR 1 and ITR 2 for A.Y. 2015-16 compared to ITR of A.Y. 2015-15

Ankit Gupta Recently introduced  ITR-1 Sahaj, ITR2, ITR 2A & ITR 4S Sugam for A.Y. 2015-16 vide Notification No. 49/2015-Income Tax, Dated: June 22, 2015 contains many changes as compared to ITR for A.Y. 2014-15. I have compiled all the changes in Excel file for your ready reference. Download Changes in ITR 1 and ITR 2 for A.Y. [&...

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Who can and who cannot use ITR-1 Sahaj, ITR2, ITR 2A & ITR 4S Sugam for A.Y. 2015-16

ITR-1 SAHAJ- WHO CAN USE THIS RETURN FORM- This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes:- (a) Income from Salary/ Pension; or (b) Income from One House Property (excluding cases where loss is brought forward from previous years); or (c) Income from Other Sources (excluding ...

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How to choose ITR Form for A Y 2015-16

CA Pardeep Kumar Income Tax Return Forms Assessment Year 2015-16 [Notification No. 49/2015/ F.No.142/1/2015-TPL] , Dated 22nd June, 2015 Sr. No. Form No. Who can File Source of Income 1. ITR – 1 Only Individual 1.Salary 2. Only one House Property – No B/F losses 3. Other Sources – No B/F losses Exception:-Ordinary Resident &...

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Important Changes in ITR 1, ITR 2, ITR 2A & ITR 4S in AY 2015-16

ITR-1- Introduction of Aadhar Card Number in ITR. (Those Who Give Aadhar Card Details, They Will Get OTP on Their Registered Mobile Number And They Are Not Required To Send ITR V). Not Applicable for those having agricultural more than Rs. 5000/-( they have to use ITR 2 or 2A)...

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ITR 1 – Validation Rules for AY 2015-16

The Income Tax Department has provided free return preparation software in the downloads page as well as facility for online ITR submission for ITRs 1 & 4S which are fully compliant with data quality requirements. However, there are commercially available software or websites that offer return preparation facilities as well....

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CBDT notifies ITR-1, ITR-2, ITR-2A and ITR-4S to be filed for AY 2015-16

Notification No. 49/2015 - Income Tax (22/06/2015)

Notification No. 49/2015 - Income Tax Dated: June 22, 2015 S.O. 1660 (E).– In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-...

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ITR Forms Simplified – New ITR-2A to come- Due Date extended to 31.08.2015

Govt to simplify ITR Forms- New ITR-2A to come- Due Date extended to 31.08.2015 from 31.07.2015- No need for Foreign Travel and Dormant Bank A/c details Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers; A New Form ITR 2A Proposed which can be Filed by an Individual […]...

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ITR-1 SAHAJ – Who can & who cannot file & Manner of Filing for A.Y. 2015-16

1. Who can use Form ITR-1 SAHAJ for Assessment Year 2015-16 i.e. Financial year 2014-15? This Return Form is to be used by an individual whose total income for the assessment year 2015-16 includes: (a) Income from Salary/ Pension; or (b) Income from One House Property (excluding cases where loss is brought forward from precious years); [...

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Changes in Notified ITR-1, ITR-2, ITR-4S for A.Y. 2015-16

CBDT has vide Notification No. 41/2015 Dated 15.04.2015. notified Form ITR-1, ITR-2 and ITR-4S for Assessment Year 2015-16 i.e Financial Year 2014-15. The Notification also made Several Change in Rule 12 of Income Tax Rules, 1962 which is related to Condition of Filing of Income Tax Return. A brief summary of Changes is as follows :- ...

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CBDT Notifies ITR-1 ITR-2 ITR-4S ITR-V for A.Y. 2015-16

Notification No. 41/2015 - Income Tax (15/04/2015)

Notification No. 41/2015 - Income Tax CBDT has notified ITR 1, ITR 2 & ITR 4S for AY 2015-16 and amended Rule 12 vide Notification No. 41/2015, Dated-15th day of April, 2015. For AY 2015-16, ITR 1, ITR 2 & ITR 4S where returned income is greater than 5 Lakhs or where Refund is claimed (except where the person is 80 years or more and fili...

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Rule 12 of Income Tax Rules wef 01.04.2014 – Filing of Audit Reports & ITR

CA Sandeep Kanoi CBDT has amended Rule 12 of Income Tax Rules 1962 vide its Notification No. 24/2014, Dated: April 1, 2014 and made amendments in respect of filing of ITR by Trusts, Partnership firms and furnishing of Audit Report under section 11(2)(a) by trusts for accumulation of Income. The Notification has also Notified SAHAJ [&helli...

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Income Tax Return – Which form to use for IT Filing AY 2014-15

Income Tax Department has released FORM ITR-3, ITR-4, ITR-5, ITR-6, ITR-7 for A.Y. 2014-15 vide its Income-tax Notification No. 28/2014, Dated- 30th day of May, 2014 and SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) , ITR-V FOR A.Y. 2014-15 vide its Income-tax Notification No. 24/2014, Dated: April 1, 2014....

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Download online / offline utility for e-Filing of ITR 1 & ITR 4S for AY 2014-15

CA Sandeep Kanoi CBDT has vide press release dated 07.04.2014 has released online and offline utility for e-Filing of ITR 1 (SAHAJ) & ITR 4S (SUGAM) for AY 2014-15. CBDT has earlier notified the same ITR forms vide its NOTIFICATION NO. 24/2014, Dated: April 1, 2014....

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CBDT Notifies SAHAJ (ITR-1), ITR-2, SUGAM (ITR-4S) , ITR-V FOR a.y. 2014-15

Notification No. 24/2014-Income Tax [S.O.997(E)] (01/04/2014)

Notification No. 24/2014-Income Tax S.O.997(E). - In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (4th Amendment) Rules, 2014...

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Download Free e-filing Excel Software for ITR 1, 2, 3, 4, 4S,5, 6

Income Tax Department has enabled online submission of ITR-1 (SAHAJ), ITR-2 & ITR-4S (SUGAM), ITR 5, ITR 6. These software can be used to file Income Tax Return Online. Please note that from A.Y. 2012-13 E-filing has been made compulsory for the person who is an individual, or a Hindu Undivided Family, if his or its total income, or th...

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Download ITR 1 ITR 2 ITR ITR4S ITR4 ITR 5 ITR 6 ITR 7 in excel & Pdf format

ITR-1 SAHAJ, ITR 2, ITR 3, SUGAM (ITR-4S), ITR-4, I in excel, word and Pdf Format for A.Y. 2012-13 / Financial Year 2011-12. We have uploaded below ITR 1- Sahaj, ITR 2, ITR 3, ITR-4, SUGAM (ITR-4S), in Excel Word and Pdf Format applicable for Assessment year 2012-13 and Financial Year 2011-12....

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E-Filing of Income Tax Returns Mandatory – CBDT

PRESS RELEASE [NO. 402/92/2006-MC (12 OF 2012)] (02/07/2012)

Central Board of Direct Taxes (CBDT) has issued a notification S.O. 626(E) dated 28th March 2012 vide which e-Filing has been made compulsory for Assessment Year 2012-13 onwards for - an individual or a Hindu undivided family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act durin...

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Download ITR-1 (SAHAJ) & ITR-4S (SUGAM) Return Preparation Software

Download Return Preparation Software - Income Tax Department has finally released Return Preparation Software for ITR-1 (SAHAJ) & ITR-4S (SUGAM) which is applicable for A.Y. 2012-13 or financial year 2011-12. The same can be used to file your return online....

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Key Requirements and Changes in New ITR Forms

As per the notification, individuals having taxable income exceeding Rs. 10 lakh and, domestic and expatriate resident individuals with assets located overseas have to mandatorily file their returns through the electronic mode....

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Which ITR should be used & by whom for A.Y. 2012-13?

ITR 1 Who cannot use this Return Form? This Return Form can not be used by an individual whose total income for the assessment year 2012-13 includes, (a) Income from more than one house property; or (b) Income from Winnings from lottery or income from Race horses; or...

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ITR 1 (Sahaj) – Who can & who cannot use?

Income tax Department has recently issued Income tax notification 14 dated 28.03.2012 by which it has specified that Individuals who is a resident and has (i) assets (including financial interest in any entity) located outside India; or (ii) signing authority in any account located outside India can not file his Return in ITR-1 Sahaj and ...

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Individual – HUF having Foreign Assets to File Return Online & not in ITR -1 or ITR 4S

ITR 1 & ITR (4S) Sugam not applicable to Individual and HUF having Foreign Assets or A/Cs and have to file there Income tax Return only only either with Digital Signature or by transmitting the data in the return electronically and thereafter submitting the verification of the return in Form ITR-V. Income Tax Notification No. 14 Dated 28....

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ITR 1 In Excel with Tax Calculation FY 2011-12

We have uploaded below ITR one in Excel Format. The form can be used by Individuals who are earning Salary Income to File Income Tax Return For Assessment year 2012-13 or Financial year 2011-2012. the Calculator is in Excel Format and also have a data input sheet in which you can fill all the income and deduction details and it will au...

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Individual HUF having income more then 10 lakh to File Return Online

Central Government has vide Income tax notification 14 dated 28.03.2012 has Amended Rule 12 of income tax Rules has specified that an individual or a Hindu undivided family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds ten lakh rupees, shall f...

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ITR-I in Excel for A.Y. 2012-2013 + Form 16 with TDS Calculation

This Utility automatically do the TDS Calculation, Fill the Form-16 and SAHAJ(ITR-I). The Sahaj excel Utility can be used by tax payers who's Taxable Income is below Rs. 5 Lakh & also by those whose income is above Rs. 5,00,000/-. The Tax Slab in this Sahaj are not only for Men or Female but it also calculate the income of Senior Cit...

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