ITR 1

Screenshot_2022-06-09-06-47-36-32_4251af1b5b11394b318ec35cda6368c8-aa7d5a09

Who Can Not Use ITR-1 (Sahaj)?

​​​​​​​​​​​Return Form ITR-1 (SAHAJ) cannot be used by an individual: Who is a Non-resident or Not Ordinarily Resident Who is a Director of a company Whose total income exceeds Rs. 50 lakhs Who has income from more than 1 house property Who has held unlisted equity shares at any time during the previous year Who …

Who Can Not Use ITR-1 (Sahaj)? Read More »

Screenshot_2022-06-09-06-47-36-32_4251af1b5b11394b318ec35cda6368c8-323d13ca

Who Can Use ITR-1 (Sahaj)?

​​​​​​​​​​​Return Form ITR – 1 (SAHAJ) can be used by an individual whose total income includes: (1) Income from salary/ pension; or (2) Income from one house property (excluding cases where loss is brought forward from previous years); or (3) Income from other sources (excluding winnings from lottery and income from race horses, income taxable under section 115BBDA or …

Who Can Use ITR-1 (Sahaj)? Read More »

Who Can File ITR-1

ITR-1 return is applicable for a Resident (other than Not Ordinarily Resident) Individual having Total Income from any of the following sources up to ₹ 50 lakh (a) Salary / Pension (b) One House Property (c) Other sources (Interest, Family Pension, Dividend etc.) (d) Agricultural Income up to ₹ 5,000.

CBDT Releases JSON Schema For ITR-1 To ITR-4 For A.Y. 2022-23 (F.Y. 2021-22)

CBDT Releases JSON Schema For ITR-1 To ITR-4 For A.Y. 2022-23 (F.Y. 2021-22)

On 4th April 2022, the CBDT has released JSON Schema for ITR-1, ITR-2, ITR-3 and ITR-4 for the A.Y. 2022-23. Download JSON Schema ITR-1: Download JSON Schema ITR-2: Download JSON Schema ITR-3: Download JSON Schema ITR-4: Download JSON Schema Reportedly, the CBDT has notified ITR-1 to ITR-6 for the A.Y. 2022-23 on 1st April 2022. …

CBDT Releases JSON Schema For ITR-1 To ITR-4 For A.Y. 2022-23 (F.Y. 2021-22) Read More »

933193-itr-filing-7de71d60

Returns applicable for Individuals – Which ITR should you file?

1. ITR-1 (SAHAJ) – Applicable for Individual This return is applicable for a Resident (other than Not Ordinarily Resident) Individual having Total Income from any of the following sources up to ₹ 50 lakh Salary / Pension One House Property Other sources (Interest, Family Pension, Dividend etc.) Agricultural Income up to ₹ 5,000   Note: ITR-1 …

Returns applicable for Individuals – Which ITR should you file? Read More »

Biggest recovery ever in the history of CBIC

WHAT IS e-FILING ? ADVANTAGES OF e-FILING

WHAT IS e-FILING ? THE PROCESS OF ELECTRONICALLY FILING INCOME TAX RETURN, THROUGH THE INTERNET, IS KNOWN AS e-FILING WHO CAN e-FILE? Individuals HUF Companies / BOI / AOP / Firms / Trusts / Local authorities / Artificial juridical person External Agencies Tax professionals – Chartered Accountants Tax Deductors and Collectors Electronic Return Filing Intermediaries …

WHAT IS e-FILING ? ADVANTAGES OF e-FILING Read More »

images - 2021-06-30T213848.018-3decc55d

Important updates for Individual and HUF- No need to file Form 10-IE in case ITR 1 or ITR 2

Option to opt for the new tax regime will be available for the taxpayers filing return of ITR 1 or ITR 2 in the return itself. There is no need for separate filing of Form 10-IE  Read below picture – relevant portion extracted – READ REGULAR BUSINESS NEWS? CLICK HERE TO DOWNLOAD APP