ITR 4 articles

ITR Forms applicable for individuals for AY 2021-2022

Recently, the Central Board of Direct Taxes (CBDT) in April 2021 notified new ITR forms for the financial year 2021-2022. Later in May 2021, they extended the timeline for submitting direct tax compliances for the current financial year.   In India, every individual has to file for income tax returns i.e. ITR in every financial year. [&...

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Solution to Problems of New Income Tax Portal

Government released New ITR filing portal on 7th June, 2021 for improving efficiency of IT Portal, best user interface and better user services. However, since the day of its launch, portal is facing many problems/errors like unable to File ITR on New Portal, unable to do EVC (E-verify) of ITR, non launching of schema of […]...

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ITR Forms Guide, Income Tax Act, 1961

What is ITR and why one should file ITR? Income Tax Return (ITR) is notified form by CBDT, in which the taxpayers file their information about his income earned and investment details to the income tax department. Till now the department has notified 7 various forms i.e. ITR 1, ITR 2, ITR 3, ITR 4, […]...

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ITR forms applicable for Individuals for AY 2021-22

The Deadline for filing income tax return for the AY 2021-22 is extended to September 30, 2021.The following are forms applicable for an Individual who are required to file their returns for the Previous Year 2020-21 and ITR-1 (Sahaj)- This form  is applicable for a Resident individual Having a total income upto ₹50 lakhs from [&hellip...

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Income Tax Return Forms for Individual & HUF For AY 2021-22

1. ITR – 1 (SAHAJ) – Applicable for Individual– This form is applicable for a Resident (other than Not Ordinarily Resident) Individual having Total Income from any of the following sources upto Rs. 50 lakh. ♦ Salary/Pension ♦ One House Property ♦ Other sources ♦ Agricultural Income upto Rs.5000. But, this ITR – 1 cannot [&...

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ITR for assessment year 2021-22- Who can use & which ITR

Forms of income tax return prescribed under Income tax law What is ITR ? ITR stands for Income Tax Return. It is a prescribed form through which the particulars of income earned by a person in a financial year and taxes paid on such income are communicated to the Income-tax Department. It also allows carry […]...

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How to File ITR-4 on New Income Tax Portal

File ITR-4 (Sugam) Online FAQs 1. Who is eligible to file ITR-4 for AY 2021-22? ITR-4 can be filed by a Resident Individual / HUF / Firm (other than LLP) who has: ♦ Income not exceeding ₹ 50 Lakh during the FY ♦ Income from Business and Profession which is computed on a presumptive basis […]...

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How to revise an ITR filed online?

When a taxpayer discovers any omission or any wrong statement in the original Income Tax Return (ITR) submitted, the same can be corrected by filing a revised return in the e-Filing portal. A Revised Return can be filed at any time before the end of relevant Assessment Year (AY) or before the completion of assessment, […]...

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Who can use ITR 2, ITR 3 and ITR 4?

In an earlier article we have discussed about who can and cannot use the ITR 1 (Sahaj). In addition to ITR 1, ITR 2, ITR3, and ITR 4 can also be used by an Individual, so it is fit and proper for us to understand as to who can submit the   remaining ITRs.  Form ITR […]...

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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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