Those assessees who don’t have an Aadhaar number have an option. The mandate will be effective from 1 July 2017. The Income Tax Department has made it mandatory to disclose your Aadhaar number in ITR forms. The schedules inquire about details of advance tax and TDS/TCS. Part-D is about the computation of tax payable, and Part-E requests other information. Part A seeks general information Part B is about Gross Total Income, and Part-C is about deductions.
This form is divided into five parts namely A, B, C, D, E and two schedules. The designing of one-page form is to enable easy compliance. You need not attach any documents or TDS certificates with this form. You can file your income tax returns in a hassle-free and expedient manner. ITR-1 Form (Sahaj) can be used by individuals to file tax return whose total income doesn’t exceed Rs 50 lakh. The last date of submission of ITR forms has been will be 31st July 2017. It’s related to the income earned from 1st April 2016 to 31st March 2017. You can use it to file the return for Financial Year 2016-2017 (i.e. It has come up with simpler one page ITR-1 Form (Sahaj). This year the Income Tax Department has uncomplicated the matters a bit for the assessees. Learn how to mange your money & create wealth, Download your FREE eBook now Filing of ITR form in itself consumes a lot of efforts. When it’s about seeking deductions, you have to browse all the tax-saving certificates. Sources of income have to be identified, and incomes from each source need to be assessed. It’s that time of the year when you need to go through documentation and reporting. Income Tax Return (ITR) filing has always left individuals perplexed. Here are the Income Tax Return (ITR) Forms for A.Y.
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