itr 1

Who can use ITR 1

Income Tax - Form ITR 1 popularly known as Sahaj is used by significant majority of tax payers. I am writing this article to help the taxpayers understand who can file it and who cannot. Who can submit ITR 1 ITR 1 can be used by an individual who is resident of India for tax purposes only. Moreover […]...

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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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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"

Who can use ITR 1

Form ITR 1 popularly known as Sahaj is used by significant majority of tax payers. I am writing this article to help the taxpayers understand who can file it and who cannot. Who can submit ITR 1 ITR 1 can be used by an individual who is resident of India for tax purposes only. Moreover […]...

Read More
Posted Under: Income Tax |

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....

Read More
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 […]...

Read More
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 […]...

Read More
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 […]...

Read More
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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Posted Under: Income Tax |

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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Posted Under: Income Tax |

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