Greetings of the day to all the members of CCI Family.
I have written the following articles in the last one week, in case you have missed it you can check it out from here.
In this article I would be discussing on the following –
Ø Income Tax Return – 1 (ITR – 1 SAHAJ)
Ø ITR – V
Ø Other points in relation to ITR
So let’s start with it:
Persons Liable to file ITR-1 SAHAJ –
Ø Income from salary/pension
Ø Income from one House Property (Excluding cases where loss is brought forward from previous years)
Ø Income from Other sources (Excluding winning from Lottery & Race Horses)
Who cannot use this Return Form –
Ø Income from more than 1 House Property
Ø Income under the head P.G.B.P, Capital gains, etc.
Ø Any resident having any asset or financial interest outside India.
Manner of filing ITR – 1 –
Ø In a paper based form
Ø Electronically under Digital signature
Ø Electronically with submitting the verification of the return in Return form “ITR – V”
Ø ITR – V, duly signed by the assesse, has to be sent by post to Post bag No.1, Bengaluru.
New to E-Filing –
Ø First of all register yourself at https://incometaxindiaefiling.gov.in/
Ø Fill in your details i.e. User type i.e. Individual, company, HUF, etc.
Ø General details eg. PAN, Address, Email id, etc.
Ø You will get a login ID with the help of which you can sign in for uploading your return.
How to E- File –
Ø Download the applicable ITR form
Ø Fill it offline & generate XML
Ø Login to the portal
Ø Upload the return
Ø Login to submit & submit ITR online.
Important points in relation to ITR-1 –
Ø Details regarding Name, PAN, Gender, Date of Birth. (A-1 to 6)
Ø Ward Circle – If you know about the ward circle fine otherwise you can get it by signing in with the help of your Permanent Account Number(PAN)(A-7)
Ø You can get it by clicking on Know my Jurisdiction and then u have to simply sign in and you will get the required details.
Ø Address, Email address, Mobile Number, Number of TRP. (A-8 to 17)
Ø Details relating to salary as given in form 16 needs to be filled.
Ø Details in relation to TDS has to be in line with Form 16 & 16 A & need to be reported in Tax schedule.
Ø Other things as per the details of individual.
Slab Rate (2015-16)-
Ø Click on the following link –
Checklist of Documents –
Ø Last year return
Ø Bank statement & TDS certificates
Ø Saving certificates
Ø Balance sheet, profit &loss account, etc.