Rush up!IT department of India cautions of Income Tax Return (ITR) documenting due date; These are the natives who can record ITR-1 in Sahaj
The Income Tax Department (IT department) has revealed another ad where it coordinates Indian subjects on who should petition for Income Tax Return (ITR) under Sahaj. So as to make assess compliances adaptable and less demanding, the department had presented ITR-1, otherwise called or Sahaj Form which is collected on a rundown of citizens for recording their ITR. recently, department has likewise patched up the ITR shape 1 for appraisal year 2018-19 and has opened the window for documenting of this frame at their site.
In most recent advancement, the IT department has propelled a promotion with a slogan saying, “It’s anything but difficult to e-record Income Tax Return in Form No.1 Sahaj.”
The due date to document ITR is planned at July 31 of this current year. IT division even specifies that, ‘Why hold up till July 31st, record early, beat the hurry.”
In the new commercial IT department has drill down people who can document ITR in Sahaj and who can’t.
Who can file
Individuals having income upto Rs 50 lakhs from salary/single house property/other income (interest etc.) can file ITR on one page ITR form No.1 Sahaj quickly and easily by following these simple steps.
- Firstly log on to your e-filing account on www.incometaxindiafiling.gov.in
- Select ITR-1 and file in the requisite details
- Calculate tax automatically online
- Pay balance tax payment (if any) online
- Upload and verify only
IT department also highlights that the above mentioned option is for the following people.
- An individual of the age of 80 years or more at any time during the previous year or
- Any individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income.
Prior ITR-1 frame was relevant for the two occupants, inhabitants not usually occupant (RNOR) and furthermore non-inhabitants. Presently, this shape is made accessible just for inhabitant people. Prior, an individual needed to demonstrate his pay separation in Form 16, which has been changed and brought under the ambit of ITR-1 shape. Aside from this, the amended ITR-1 frame likewise has prerequisite to outfit a separate of Income under House Property which was before said in ITR – 2 and different structures.
Who can’t file
People having salary from sources like in excess of one House Property, Lottery, Racehorses, Legal Gambling and so on., assessable capital additions (Short term and Long term), horticultural wage surpassing Rs 5,000, Business and Profession.
Likewise, if an Individual who is an occupant and has resources (counting monetary enthusiasm for any element) outside India or marking specialist in any record situated outside India can’t document ITR through it.
Indeed, even individual guaranteeing help of outside duty paid or twofold tax collection alleviation under segment 90/90A/91.
Structure of ITR-1 form
Part A – General Information
Part B – Gross total Income
Part C – Deductions and taxable total income
Part D – Computation of Tax Payable
Part E – Other Information
How to file
Step 1. Login to e-filing website with User ID, Password, Date of Birth /Date of Incorporation and Captcha.
Step 2. Go to e-File and click on “Prepare and Submit ITR Online”.
Step 3. Select the Income Tax Return Form ITR 1/ITR 4S and the Assessment Year.
Step 4. Fill in the details and click the “Submit” button.
Step 5. Upload Digital Signature Certificate (DSC), if applicable. One needs to ensure the DSC is registered with e-Filing.
Step 6. Click on “Submit” button.
Step 7. On successful submission, ITR-V would be displayed (if DSC is not used). Click on the link and download the ITR-V, which will also be sent to the registered email. If ITR is uploaded with DSC, the Return Filing process is complete.