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Income Tax - 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...
Read MoreIncome Tax - 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...
Read MoreIncome Tax - 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 […]...
Read MoreIncome Tax - 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 […]...
Read MoreIncome Tax - 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 […]...
Read MoreIncome 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 […]...
Read MoreIncome Tax - Today CBDT has finally released after 39 days of start of Assessment Year 2018-19, Excel and Java Utility of ITR-4 (For presumptive income from Business & Profession). Earlier CBDT has released Excel and Java Utility of ITR 1 on 14th April 2018 . CBDT has notified ITR Forms vide Notification No. 16/2018-Income Tax dated 3rd [&he...
Read MoreIncome 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:-...
Read MoreIncome Tax - In its commitment to release ITR timely and also to comply with Hon’ble Punjab High Court Direction as given in the case of Vishal Garg & Ors. Vs. Union of India & Anr CBDT has further e-filing utility of ITR 4 and ITR 5 for AY 2016-17. CBDT has earlier released e-filing utility for ITR 1 […]...
Read MoreIncome 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 […]...
Read MoreITBA- 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 ...
Read MoreNotification 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...
Read MoreNotification 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...
Read MoreNotification 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 th...
Read MoreNotification No. 37/2011 - Income Tax - (01/07/2011) - Notification No. 37/2011 - Income Tax [F. No. 149/68/2011-So (Tpl)], Dated 1-7-2011 Income-Tax (Sixth Amendment) Rules, 2011 - Amendment in Rule 12 - In the Income-tax Rules, 1962 in rule 12, in sub-rule (3), in the proviso, for clauses (a) and (aa) the following clause shall be substituted, namel...
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ITBA- Rectification Instruction No.5 - (28/06/2019) -
