ITR-1 (Sahaj) vs ITR-4 (Sugam): Check key differences and eligibility
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3 weeks, 2 days ago

ITR-1 (Sahaj) vs ITR-4 (Sugam): Check key differences and eligibility

India Today  

Filing an Income Tax Return can be tricky, given that there are seven types of ITR forms, from ITR-1 to ITR-7. Those individuals who earn income through salary, pension, or one house property can fill in ITR-1. Those who earn from interest, dividends, or other sources and whose total income does not exceed Rs 50 lakh in a financial year, can also fill in this form. Also known as Sugam form, ITR-4 is applicable to individuals, Hindu Undivided Families, or firms who choose presumptive taxation under Sections 44AD, 44ADA, or 44AE. This form is also applicable to those earning from interest, dividends, or other sources or whose total income is up to Rs 50 lakh in a financial year, and the income should be declared on a presumptive basis, meaning it is estimated as a percentage of gross receipts.

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History of this topic

ITR-1 (Sahaj) vs ITR-4 (Sugam): Differences, eligibility, which you should choose
3 weeks, 2 days ago

ITR-1 (Sahaj) vs ITR-4 (Sugam): Differences, eligibility, which you should choose

India Today  

Submission of your Income Tax Return correctly will help to escape legal woes and hassle-free tax compliance. 50 lakhs Earn income from rental on more than one house property Held unlisted equity shares in the last year Claim deduction under section 80QQB or 80RRB Are assessed under section 194N Have delayed tax payments under sections 191 or 192 Avail deductions …

Income Tax Return Filing Online: Easy Steps To File ITR 1 Sahaj, Check Details Here
1 year, 11 months ago

Income Tax Return Filing Online: Easy Steps To File ITR 1 Sahaj, Check Details Here

News 18  

An income tax return is a document that you file with the Indian tax department to report your income, deductions, and taxes paid for a particular financial year. The finance ministry has allowed individuals against whom search and seizure operations were carried out by the IT authorities to file revised income tax return in ITR-1 form for assessment year 2023-24. …

Income Tax Return Filing FY22: ITR 1 to ITR 7, Have you Selected Correct ITR Form for AY 2022-23?
2 years, 8 months ago

Income Tax Return Filing FY22: ITR 1 to ITR 7, Have you Selected Correct ITR Form for AY 2022-23?

News 18  

July 31 is the last date for filing income tax return for the assessment year 2022-23 or financial year 2021-22. Who Can’t File ITR 1 Form or Sahaj – Non-residents or residents but non-ordinarily residents – Hindu Undivided Family – Ordinarily residents having total income of more than Rs 50 lakh – Director in a company – Those who hold …

How to file ITR-1 Sahaj form online for AY 2022-23: All you need to know
2 years, 8 months ago

How to file ITR-1 Sahaj form online for AY 2022-23: All you need to know

India Today  

To make tax compliance easier, the income tax department has categorised taxpayers into many groups based on income and its source. Sahaj stands for “Easy” in Hindi and any salaried person, including pensioners, family pension holder and person earning income by interest, can use this form to file for ITR. HOW TO FILE THE ITR-1 SAHAJ FORM: You can submit …

Income Tax return: New ITR forms explained
2 years, 11 months ago

Income Tax return: New ITR forms explained

India Today  

Income taxpayers must take note that new ITR forms have been notified by the finance ministry for the Assessent Year 2022-23. The ITR forms seek additional information with regard to overseas retirement benefits and interest accrual on provident fund deposits exceeding Rs 2.5 lakh a year. "For individuals being a resident having total income upto Rs.50 lakh, having Income from …

Income Tax Department notifies ITR forms | Check details
2 years, 11 months ago

Income Tax Department notifies ITR forms | Check details

India Today  

The Income Tax department has notified forms for filing Income Tax returns for financial year 2021-22. ITR FOMR 3, 5 ITR-3 is filed by people having income as profits from a business/ profession, while ITR-5 is filed by a corporate body limited liability partnership. While the ITR-1 form has been kept broadly the same as last year, the new addition …

ITR 1, ITR 2, ITR 3 or ITR 4: Which form to select for income tax return?
3 years, 7 months ago

ITR 1, ITR 2, ITR 3 or ITR 4: Which form to select for income tax return?

Live Mint  

After we discussed as to who can use ITR 1 in the article last week, let now see who can use ITR 2, ITR 3 and ITR 4. ITR 2 can be used by all those persons who are not eligible to use ITR 1 and their source of income does not have any business or professional income. Those who …

Income tax return: Who can use ITR 1, who cannot?
3 years, 7 months ago

Income tax return: Who can use ITR 1, who cannot?

Live Mint  

Form ITR 1 which is popularly known as Sahaj is to be used by significant majority of tax payers. Likewise, any person whose taxable income does not exceed fifty lakhs can use ITR 1 provided he does not have any income under the head “Capital gains” and “Profits and gains of business or profession”. “Salaries”, “Income From House Property” and …

How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know
3 years, 10 months ago

How to file ITR-1 Sahaj form online for AY 2021-22: All you need to know

India Today  

To make tax compliance easier, the income tax department has categorized taxpayers into many groups based on income and its source. Sahaj stands for “Easy” in Hindi and any salaried person including pensioners, family pension holder and person earn income by interest can use this form to file ITR. Who is Eligible to File ITR-1 Form: A person who has, …

Govt Notifies Income Tax Returns Forms for 2020-21, Here's All You Need to Know
3 years, 11 months ago

Govt Notifies Income Tax Returns Forms for 2020-21, Here's All You Need to Know

News 18  

The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. Similarly, Sugam can be filed by individuals, Hindu Undivided Families and firms having total income up toRs 50 lakh and income from business and profession computed under the presumptive taxation provisions. Those individuals earning between Rs 2.5 …

Govt Notifies Income Tax Returns Forms for 2020-21
3 years, 11 months ago

Govt Notifies Income Tax Returns Forms for 2020-21

News 18  

The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. Similarly, Sugam can be filed by individuals, Hindu Undivided Families and firms having total income up toRs 50 lakh and income from business and profession computed under the presumptive taxation provisions. Those individuals earning between Rs 2.5 …

Income Tax Return or ITR forms for AY 2021-22 issued. Details here
3 years, 11 months ago

Income Tax Return or ITR forms for AY 2021-22 issued. Details here

Live Mint  

The Central Board of Direct Taxation has notified new income tax return forms — ITR-1 to ITR-7 — for the assessment year 2021-22, the ministry of finance said in a release on 1 April. "Keeping in view the ongoing COVID-19 crisis and to facilitate the taxpayers, no significant change have been made to the ITR forms in comparison to the …

Income Tax Returns: Check Revised Instructions for Form 2,3,5,6,7
4 years, 3 months ago

Income Tax Returns: Check Revised Instructions for Form 2,3,5,6,7

The Quint  

To help taxpayers and make income tax filing experience smooth, the Income Tax Department has made significant changes to the taxation structure. Below are the form-wise instructions issued by the Income Tax Department to fill the ITRs: ITR-2 Eligibility – For an Individual or HUF not eligible to file ITR-1 and not having income from business or profession. ITR-3 Eligibility …

Income Tax: Who can use ITR 1?
4 years, 3 months ago

Income Tax: Who can use ITR 1?

Live Mint  

Form ITR 1 popularly known as Sahaj is used by significant majority of tax payers. “Salaries”, “Income From House Property” and “Income From other sources” can use ITR 1. Since pension is taxed as salary, all the retired persons who do not have any income under the head “Capital Gains” or “Profits and gains of business or profession” can also …

Income Tax Return for AY 2020-21: Which ITR form is applicable to you
4 years, 5 months ago

Income Tax Return for AY 2020-21: Which ITR form is applicable to you

Live Mint  

There are four Income Tax Return forms applicable to an individual. "Selection of appropriate ITR form is important as wrong selection would result in a receipt of defective notice from the Income Tax Department which needs to be rectified within a specified period of time," says Kapil Rana, founder and Chairman, HostBooks. An individual having income from salaries, more than …

Income Tax Return for AY 2020-21: Who cannot file ITR1?
4 years, 5 months ago

Income Tax Return for AY 2020-21: Who cannot file ITR1?

Live Mint  

The Income Tax department of India specifies a few conditions where an individual cannot use ITR1 to file his or her income tax. Income for this purpose includes income from salary or pension, income from one house property and income other sources such as interest from bank account. An individual who fulfills any of the below mentioned conditions, cannot file …

ITR Forms: Eligibility criteria, which tax return to file
4 years, 6 months ago

ITR Forms: Eligibility criteria, which tax return to file

India Today  

In India, the system of direct taxation, as it is known today, has been in force in one form or another even from ancient times. Income Tax Return is a form in which the taxpayers file information about his income earned and tax applicable to the income tax department. All individuals having taxable income or those who satisfy other prescribed …

How to file ITR-1 Sahaj form online: All you need to know
4 years, 6 months ago

How to file ITR-1 Sahaj form online: All you need to know

India Today  

To make tax compliance easier, the income tax department has categorized taxpayers into many groups based on income and its source. Sahaj stands for “Easy” in Hindi and any salaried person including pensioners, family pension holder and person earn income by interest can use this form to file ITR. Who is Eligible to File ITR-1 Form: A person who has, …

Income tax return filing for FY 2018-19 begins; ITR-1, 4 forms available for download
5 years, 11 months ago

Income tax return filing for FY 2018-19 begins; ITR-1, 4 forms available for download

Live Mint  

You can now start filing your income tax returns for the last financial year 2018-19 with the Income Tax department issuing ITR forms 1 and 4 from today. ITR-1 and ITR-4 forms can be downloaded from the income tax e-filing website and also used for filing your tax returns online. HUFs and firms having total income of upto ₹50 lakh …

Who can use ITR-1 form for filing returns and who can’t
6 years, 9 months ago

Who can use ITR-1 form for filing returns and who can’t

Live Mint  

There are different types of income tax return forms—ITR-1 to ITR-7—for filing of returns by different income tax assesses. An individual income tax assessee, whose primary source of income is salary or pension can use ITR-1 to file her return. One can also use ITR-1 if other income includes income from one house property and income from other sources. Besides, …

ITR-1 form for FY18-19 activated for e-filing: Income Tax Department
6 years, 11 months ago

ITR-1 form for FY18-19 activated for e-filing: Income Tax Department

Live Mint  

New Delhi: 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 on Tuesday. The single Income Tax Return form, notified by the Central Board of Direct Taxes on 5 April, has been put on its website, www.incometaxindiaefiling.gov.in, yesterday. The new …

ITR form decoded for you
6 years, 11 months ago

ITR form decoded for you

Live Mint  

Mumbai: This year when you file your income-tax returns, you will have to do some extra leg work on disclosing your income — both from salary and from house property. Also, the income defined under the category includes income from salary, income from one house property and income from other sources such as interest received. Now let’s see what has …

Filing ITR just got easier for salaried class with CBDT's one-page form; Aadhaar mandatory
7 years, 9 months ago

Filing ITR just got easier for salaried class with CBDT's one-page form; Aadhaar mandatory

India TV News  

In a move that should come as relief for salaried employees, the Central Board of Direct Taxes has now come up with a single-page form for filing of Income Tax Returns for salaried individuals, as against the seven-page form earlier. The new income tax return form-1, which would apply for assessment year 2017-18, could be used for those receiving income …

Govt notifies new simplified income tax return forms; e-filing to start from today
7 years, 11 months ago

Govt notifies new simplified income tax return forms; e-filing to start from today

Firstpost  

The e-filing facility for ITR-1 is enabled from 1 April and ITRs can be filed till the stipulated deadline of 31 July. New Delhi: The government on Friday notified a simplified Income Tax Return form for individuals with key additions like mandatory linking of tax returns with the assessee’s Aadhaar number. Only 6 crore out of 29 crore persons holding …

One Page ITR 1: CBDT Simplifies Income Tax Return Filing For Individuals
7 years, 11 months ago

One Page ITR 1: CBDT Simplifies Income Tax Return Filing For Individuals

Live Law  

In a step to reduce the compliance burden of around 2 crore tax payers the Central Board of Direct Taxes notified simplified income tax returns form for individuals. These ITR forms will be for the assessment year 2017-18 and filed electronically from April 1, 2017.At present, ITR 1 is filed by an individual having income from salary, one house property …

Day before e-filing begins, govt notifies simplified form for filing Income Tax returns
7 years, 11 months ago

Day before e-filing begins, govt notifies simplified form for filing Income Tax returns

India TV News  

The Income Tax department has notified a new set of ITR or Income Tax Return forms which will be available for filing returns for the Assessment Year 2017-18 from Saturday. Only 6 crore out of 29 crore persons holding permanent account number file income tax returns at present. Post July 1, as per amendments to the Finance Bill 2017 as …

Income tax returns filing to be simpler from 1 April; likely to ecnourage e-filing
7 years, 11 months ago

Income tax returns filing to be simpler from 1 April; likely to ecnourage e-filing

Firstpost  

Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income deductions have been clubbed in ITR1 form called ‘Sahaj’. New Delhi: A crisp income tax form for salaried individuals will be introduced from 1 April, doing away with some columns to simplify the filing of returns. Currently, the ITR 1/Sahaj has …

ITR form made simpler, e-filing of income tax to start from 1 April
7 years, 11 months ago

ITR form made simpler, e-filing of income tax to start from 1 April

Live Mint  

New Delhi: A crisp income tax returns form for salaried individuals will be introduced from 1 April, doing away with some columns to simplify the filing of returns. Individuals with salary and interest income will have to fill fewer columns as some of these for claiming income deductions have been clubbed in ITR-1 form called ‘Sahaj’. Currently, the ITR-1/Sahaj has …

ITR e-filing for three more categories of assessees
8 years, 11 months ago

ITR e-filing for three more categories of assessees

The Hindu  

The Income Tax department today launched the e-filing of income tax returns for a few more categories of filers for the assessment year 2016-17 after it operationalised some of them early this week. The latest enabled Income Tax Returns include ITR-2 for individuals and Hindu Undivided Families not having income from business or profession, 2A for individuals and HUFs not …

Income Tax forms simplified, file returns by Aug 31 |IndiaTV News
9 years, 9 months ago

Income Tax forms simplified, file returns by Aug 31 |IndiaTV News

India TV News  

New Delhi: The Finance Ministry today came out with new three-page income tax return forms, dropping the controversial provision for mandatory disclosure of foreign trips and dormant bank accounts, while it also extended the last date of filing to August 31. A new form ITR 2A has been brought out by the ministry which can be filed by an individual …

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