TaxTMI 
TaxTMI 
ITR-1 ready for e-filing: IT dept
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....TR-1 ready for e-filing: IT dept <br>Income Tax<br>Dated:- 17-4-2018<br><BR>New Delhi, Apr 17 (PTI) The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said today. The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in, yesterday. "Other ITRs wil be available shortly," he said. The new ITR forms for the assessment year 2018-19 mandate the salaried class assessees to provide their salary breakup, and businessmen their GST number and turnover. The Central Board of Direct Taxes (CBDT), that frames policy for the tax department, had sai....
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....d some fields have been "rationalised" in the latest forms and that there is no change in the manner of filing the ITRs as compared to the last year. All the seven ITR forms are to be filed electronically except for some category of taxpayers. The most basic, ITR-1 or Sahaj, to be filled by the salaried class of taxpayers, was used by 3 crore taxpayers during the last financial year. The form this time seeks an assessees salary details in separate fields and in a breakup format such as allowances that are not exempted, value of perquisites, profit in lieu of salary and deductions claimed under section 16. These details are provided in the Form 16 of a salaried employee and a senior tax official said that these are now meant to be mentio....
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....ned in the ITR for clarity of deductions. The CBDT had said that the ITR-1 can be filed by an individual who "is resident other than not ordinarily resident and having an income of up to Rs. 50 lakh. "Further, the parts relating to salary and house property have been rationalised and furnishing of basic details of salary (as available in Form 16) and income from house property have been mandated," it had said. ============= Document 1 FORM ITR-1 SAHAJ INDIAN INCOME TAX RETURN [For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh] (Refer instructions for eligibility) Assessment Year 2018-19 PART A ....
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....GENERAL INFORMATION Name PAN Mobile No. Email Address Address: Flat/Door/Block No. Area/locality Town/City/District Aadhaar) Aadhaar Number (12 digit)/Aadhaar Enrolment Id (28 digit) (If eligible for Road/Street/Post Office Name of Premises/Building/Village State Country Pin code Employer, if any. ☠PSU - ☠Others Return filed (Tick)[Please see instruction- ] ☠On or before due date- u/s139(1), □ Belated- u/s 139(4), ■Revised - u/s 139(5), ■u/s 119(2)(b), or in response to notice u/s ☠139(9)-Defective, ☠142(1), ◎148, 153A/153C If revised/defective, then enter Receipt No. and Date of filing original return (DD/MM/YYYY) If filed in response to notice u/s 139(9)/142(1)....
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..../148/153A/153C, enter date of such notice Govt. Are you governed by Portuguese Civil Code as per section 5A? Tick) ▼ ☠Yes ☠No (If “YES†fill PAN of the Spouse) PART B GROSS TOTAL INCOME Whole- Rupee (Rs.) only B1 SALARY PENSION i Salary (excluding all allowances, perquisites and profit in lieu of salary) ii Allowances not exempt iii Value of perquisites i ii iii iv Profit in lieu of salary v Deductions u/s 16 |vi Income chargeable under the head ‘Salaries' (i + ii + iii + iv − v) B2 Tick applicable option ☠Self Occupied ☠Let Out HOUSE PROPERTY i Gross rent received/ receivable/ letable value ii Tax paid to local authorities iii Annual Value (i – ii) iv 30% o....
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....f Annual Value v Interest payable on borrowed capital vi Income chargeable under the head ‘House Property' (iii – iv - v) B3 Income from Other Sources iv V B1 If let out, furnish details below - i ii iii iv V B2 ( ) B3 B4( ) B4 Gross Total Income (B1+B2+B3) (If loss, put the figure in negative) PART C - DEDUCTIONS AND TAXABLE TOTAL INCOME (Refer instructions for Deduction limit as per Income-tax Act) 80C 80G 80TTA 80D Any Other (Please specify section) Total deductions C1 Total Income (B4-C1) C2 PART D - COMPUTATION OF TAX PAYABLE D1 Tax payable on total income D2 Rebate u/s 87A D3 Tax after Rebate D4 Cess, on D3 D5 Total Tax and Cess D6 Relief u/s 89(1) D7 Interest u/s 234A D8 Interes....
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....t u/s 234B D9 Interest u/s 234C D10 Fee u/s 234F D12 Total Taxes Paid D11 D13 Total Tax, Fee and Interest (D5+D7+D8+D9+D10 – D6) Amount payable (D11-D12) (if D11>D12) D14 Exempt Income: For reporting purpose 10 (38) 10(34) Agricultural Income (Rs.5000) Refund (D12-D11) (if D12>D11) Others Pls. specify PARTE - OTHER INFORMATION D15 SI. I II Details of all Bank Accounts held in India at any time during the previous year (excluding dormant accounts) IFS Code of the Bank Name of the Bank Account Number Schedule-IT Details of Advance Tax and Self-Assessment Tax payments R1 R2 BSR Code Col (1) Date of Deposit (DD/MM/YYYY) Col (2) Serial Number of Challan Col (3) (tick one account for refund) Tax pa....
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....id Col (4) Schedule-TDS Details of TDS/TCS [As per Form 16/16A/27D issued or Form 26QC furnished by Deductor(s)/ Employer(s)/ Collector(s)] TAN of deductor/ PAN of the Tenant Col (1) Name of the Deductor/ Collector/Tenant Col (2) Amount which is subject to tax deduction /collection Col (3) Year of tax deduction/ collection Col (4) Tax Deducted/ collected Col (5) Amount out of (5) claimed this Year Col (6) T1 T2 Stamp Receipt No., Seal, Date & Sign of Receiving Official I, VERIFICATION son/daughter of solemnly declare that to the best of my knowledge and belief, the information given in the return is correct and complete and is in accordance with the provisions of the Income-tax Act, 1961. I further declare that....
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.... I am making this return in my capacity as verify it. I am holding permanent account number Date: If the return has been prepared by a Tax Return Preparer (TRP) give further details below: Identification No. of TRP Name of TRP If TRP is entitled for any reimbursement from the Government, amount thereof and I am also competent to make this return and (if allotted) (Please see instruction). Sign: Counter Signature of TRP<BR> News - Press release - PIB....