News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
News Headlines »
 How to file Income Tax Returns for business? ITR filing
 How to file Income Tax Returns for salaried employees? ITR filing
 Income tax return (ITR) filing for AY 2019-20: A step-by-step guide
 5 things you should know about section 80DDB deductions ITR filing
 All About e-Filing Income Tax Return in India ITR Filing
 Good News! Income tax return filing process simplified; Big relief in LTCG from CBDT
 How to report pension income while filing ITR
 How you can file income tax return online DIY guide to ITR filing
 How to file ITR-1 online
 How to file ITR-1 online
 New income tax rules with revised guidelines comes in effect from today

CBDT simplifies ITR filing process from FY18
April, 28th 2017

The Central Board of Direct Taxes (CBDT) on Friday notified Income tax return (ITR) forms for the upcoming financial year (FY17-18).

CBDT in one of the major reforms, notified the designing of one page ITR form to simplify the process of tax filing. "This ITR Form-1(Sahaj) can be filed by an individual having income upto Rs 50 lakh and who is receiving income from salary one house property / other income (interest etc.)."

This will reduce the compliance burden to a significant extent on the individual tax payer. This initiative will benefit more than two crore tax-payers who will be eligible to file their return of income in this simplified Form, Ministry of Finance said in a release.

Moreover, the Ministry in the release said that number of ITR forms has also been reduced to seven as against the existing nine forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.


Further, no changes have been made in the manner of filing the ITR Forms as compared to last year.

All these ITR Forms are to be filed electronically. However, where return is furnished in ITR-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:-

(i) an individual of the age of 80 years or more at any time during the previous year; or

(ii) an individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions