News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
Top Headlines »
 What happens if you don't file income tax return (ITR): Penalty or even jail
 5 points Income tax deduction on FD interest for senior citizens
 CBDT issues this important note - All you need to know Income Tax alert
 FY 2018-19 Revised Income Tax Return Filing: Step by step guide on how to do it online
 ITR filing date for FY19 extended: Here's how to do it online
 5 Common Mistakes That Can Draw Income Tax Notice ITR Filing
 Income-tax (18th Amendment) Rules, 2020
 10 tax-saving fixed deposits that offer the best interest rates
 ​Amendment of rule 31​​AA, Form 27EQ
 CBDT extends FY19 income tax return filing deadline till September 30
 7 Money and tax tasks you should complete by July 31, 2020

Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
April, 25th 2017

The government has notified Income-Tax Return Forms for the Assessment Year 2017-18 and one of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj).

The Central Board of Direct Taxes has notified Income-Tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj).
The e-filing facility for ITR-1 has been enabled from April 1 and ITR return 2017 can be filed till the stipulated deadline of July 31.

Furnishing fake rent receipt to lower tax burden? Not anymore
MUST READ
Furnishing fake rent receipt to lower tax burden? Not anymore

As per amendments to the Finance Bill 2017 passed by the Lok Sabha, it would become mandatory for an assessee to provide the Aadhaar number or the number showing that he has applied for Aadhaar in the ITR filing 2017.

Also the e-filing website would have an online tax calculator to help assessees determine their tax liability.

Here is all you need to know about this single page ITR form SAHAJ
The Income Tax Return Form-1 Sahaj will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
Sahaj can be filed by an individual having income of up to INR 50 lakh from salary, house property and interest.
Currently, SAHAJ ITR 1 is filed by salaried employees and ITR 2 by individuals and HUFs whose income does not include income from business.
Sahaj makes quoting of 12-digit biometric identifier Aadhaar number mandatory along with Permanent Account Number (PAN).
The e-filing facility for ITR-1 is enabled from April 1 and ITR 2017 can be filed till the stipulated deadline of July 31.
In the new form, parts relating to tax computation and deductions have been rationalised and simplified for easy compliance.
Besides personal details, an income tax filer needs to disclose only his income from salary or pension, one house property and other sources like interest for ITR filing 2017.
Thereafter, deduction claims are to be stated, followed by computation of taxable income.
Bank details are to be filled in the column following that.
Details of advance tax, self-assessment tax payments and tax deducted at source come next.
In the column for providing bank details, cash deposited in excess of Rs 2 lakh during November 9 to December 30, 2016 has to be mentioned during ITR return 2017.
TAGS

Central Board of Direct TaxesIncome-Tax Return FormsITR formsITR for 2017-18ITR Form-1 SahajSahaj ITR formIncome-Tax Return 2017-18Income-Tax Return 2017ITR filing 2017

Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting