itr 1

Beware before claiming any deduction/allowance in Income Tax Return which was not considered in Form 16/16A

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

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

Income Tax - Following taxpayers shall file their return of income only through e-filing mode: (1) From the assessment year 2015-16 onwards any asessee filing ITR 1/2/2A (other than an individual of the age of 80 years or more at anytime during the previous year) having a refund claim in the return or having total income of more […]...

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

Income Tax - Under the Income-tax Law, different ITR forms (Income Tax Return Forms) are prescribed for different classes of taxpayers.  CBDT already notified ITR, ITR 2A, ITR 2, ITR 3, ITR 4S,ITR 4, ITR 5, ITR 6 and ITR 7 for A.y. 2015-16. In this article we have discussed which ITR is applicable for a Particular Assessee […]...

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

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

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

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

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

Income Tax - 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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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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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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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...

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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 - (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...

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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...

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Income Tax Refund without verification, if difference in amount claimed and 26AS is less then one lakh

Press Release No.402/92/2006-MC (03 of 2011) - (10/02/2011) - In order to speed up refunds, TDS claims in all tax returns (ITR-1 to ITR-6) will be accepted without verification if the difference between the amount claimed in the return and the amount reflected in the TDS return (AS-26 statement) does not exceed...

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Recent Posts in "itr 1"

Beware before claiming any deduction/allowance in Income Tax Return 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....

Read More
Posted Under: Income Tax |

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...

Read More
Posted Under: Income Tax | ,

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 […]...

Read More
Posted Under: Income Tax | ,

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

Following taxpayers shall file their return of income only through e-filing mode: (1) From the assessment year 2015-16 onwards any asessee filing ITR 1/2/2A (other than an individual of the age of 80 years or more at anytime during the previous year) having a refund claim in the return or having total income of more […]...

Read More
Posted Under: Income Tax |

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

Under the Income-tax Law, different ITR forms (Income Tax Return Forms) are prescribed for different classes of taxpayers.  CBDT already notified ITR, ITR 2A, ITR 2, ITR 3, ITR 4S,ITR 4, ITR 5, ITR 6 and ITR 7 for A.y. 2015-16. In this article we have discussed which ITR is applicable for a Particular Assessee […]...

Read More
Posted Under: Income Tax |

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/...

Read More
Posted Under: Income Tax |

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. [&...

Read More
Posted Under: Income Tax | ,

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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Posted Under: Income Tax | ,

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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Posted Under: Income Tax | ,

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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Posted Under: Income Tax |
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