Preeti Kulkarni, ET Bureau Jul 30, 2013, 09.50 AM IST( July 31, the last day to file ) ET provides a step-by-step guide to help you file tax returns electronically before the July 31 deadline using the official website of the I- T dept or private sites. July 31, the last day to file income tax returns, is almost here. Sure, you can file returns even after that, but it comes with complications. So, don't count on it. If you earn above Rs 5 lakh, you have to file returns electronically this year. That means you can file your returns even in the last two days from your home computer. You can seek the help of a professional or do it yourself by using the official website of the Income- Tax department or a host of private websites. Before we proceed to how to use these portals effectively, let us address a major source of ambiguity this year regarding the applicability of forms ITR-1 and ITR-2 to salaried individuals or pensioners with one house property and interest income. Tax consultants are divided on the interpretation of new provision on exempt income, introduced this year. According to this provision, those with exempt income exceeding Rs 5,000 cannot file their return using ITR-1 ( Sahaj). While some feel that all salaried individuals who have tax-exempt income like House Rent Allowance ( HRA Leave Travel Allowance ( LTA) and transport allowance have to use ITR-2 this year, others argue that they can continue to use the much simpler ITR-1 ( Sahaj). My view is that the exempt income here refers to sources like dividends and not tax-free salary components like HRA and conveyance allowance, explains Divya Baweja, senior director at Deloitte in India. The Income- Tax department is yet to issue a clarification on the matter. Using the official website Before you start the process, keep your bank statements, Form 16 issued by your employer and a copy of last year's return at.
As you all know that you have to file income tax return of salary for the A. Y.2015-16 for the period of to. The last date to file salary income tax return is 31st July, 2015 (extended up to 31st Aug, 2015) as per the date mentioned in the Income Tax Obligation Calendar for A. Y.2015-16. So you have to ready your documents to file your Salary Income Tax return as per the instructions given in Form ITR-1. Income Tax Department has issued new form to file income tax return for A. Y. 2015-16 including ITR-1 along with excel utility software to create XML format. The XML format is only format which can be uploaded to the server of income tax department. No other means or way to upload or file income tax return. So you can download the excel utility software to file ITR-1 online or PDF, Excel format to file offline income tax return. We have also given the important information for the assesee to help them to file ITR-1 easily. Notified on via notification no.49/2015) A. Y.2014-15 A. Y.2013-14 What is ITR-1 The form is also known as Sahaj Form. So you don’t need to confuse over it. The form is for the assesee who have salary income during the Financial year 2015-16. There are other of ITR forms like ITR-2, 3,4,5,6,7. But these forms are used for other incomes. We will update the links for downloading other forms also in coming days. The persons who have the following income or receipts should use ITR-1 form. The assesee should download the ITR-1 form to file income tax return online for offline. We will talk only about efiling of ITR-1 Form. There are two ways to efile ITR-1 Form. 1) Prepare Return Offline: Download ITR-1 and fill all the complete detail then click on to prepare XML. It will make your file in XML format which should be need to uploaded on the server of income tax department. 2) Prepare ITR-1 XML file through any software.
Quick Link Tax Calculator Apply Online - PAN/ TAN E- Pay Tax View Form 26 AS ( Tax Credit) Need Assistance? For Income tax related queries ASK : For Rectification and Refund CPC : For e- Filing of Returns e- Filing: + 0025 Income Tax Returns Note: Select the Assessment Year and download the requisite ITR. Please enable Macros in the excel sheet before entering data. The downloaded ZIP folder of the requisite ITR form should be Extracted/ Unzipped before opening the JAVA utility. To know more on how to use JAVA utilities, please click here To know more on how to use JAVA utilities, please click here To know more on how to install/configure and run java, please click here. Checklist of documents and pre-requisites Income Tax Return Utility Downloads ITR Description ITR 1 ( SAHAJ) For Individuals having Income from Salary and Interest. ITR 2 For Individuals or (b) Income from One House Property (excluding cases where loss is brought forward from previous years or (c) Income from Other Sources (excluding Winning from Lottery and Income from Race Horses) NOTE Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only ifthe income being clubbed falls into the above income categories. Who cannot use ITR-1 This Return Form should not be used by an individual whose total income for the assessment year 2015-16 includes:- (a) Income from more than one house property; or (b) Income from Winnings from lottery or income from Race horses; or (c) Income under the head Capital Gains' e.g., short-term capital gains or long-term capital gains from sale of.
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