Income Tax : ITR-3 is the tax form for individuals and HUFs with business or professional income. Learn who must file, the types of income cove...
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Income Tax : ITR-1 For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income fro...
Income Tax : The corrigendum addresses formatting and reference errors in Schedule CG and Schedule OS. It clarifies reporting fields without al...
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Income Tax : Explore the Ministry of Finances corrigendum (Notification No. 22/2024) on Income-tax (Amendment) Rules, 2024. Learn about changes...
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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, 2019 […]
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.
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 […]
WHAT IS ITR 3 ITR-3 Form is for individuals and HUFs having income from a proprietary business or profession. ITR-3 APPLICABLE FOR: The persons having income from following sources are eligible to file ITR 3: Business or profession Return may include income from House property/ Salary/Pension and Income from other sources LIC Agents (Commission income) […]
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.
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 […]
Today CBDT has finally released after 47 days of start of Assessment Year 2018-19, Java Utility of ITR-3 (For individuals and HUFs having income from profits and gains of business or profession). It is worthy to note that CBDT is failed to release excel utility of ITR-3 and released only Java utility of ITR-3. Earlier […]
Instructions for filling out FORM ITR-3 (A.Y. 2018-19) These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962. 1. Assessment Year for which this Income Tax Return Form ITR-3 is applicable This Return […]
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 deductions, expenses or exemptions refer table 2
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, […]
