For Individuals / HUF having Income from Salary / Pension / Income from One House Property [excluding loss brought forward from previous years] / Income from Other Sources [Excluding Winning from Lottery and Income from Race Horses]
ITR-1 is for salaried individual or HUF [with TDS1 accumulation], with no other income sources other than salary or renumeration contract employee [with TDS2 accumulation] or both.
It is also one of the most simple Income-Tax Returns-Filing, with very few fields, with just 4 pages to fill up. Lets do it in the traditional step by step process.
ITR-1 is for salaried individual or HUF [with TDS1 accumulation], with no other income sources other than salary or renumeration contract employee [with TDS2 accumulation] or both.
It is also one of the most simple Income-Tax Returns-Filing, with very few fields, with just 4 pages to fill up. Lets do it in the traditional step by step process.
- Income Details: In the First page, it is the basic information [like, name, DoB, PAN, IT Ward & Section, Annual Salary/Pension, Income from One House, etc].
- TDS: In the Second page, the TDS details from Form 16, Form 16A & any Advance Tax Paid or Self Assessment Tax paid/payable details are to be filled.
- Taxes Paid and Verification:
- Section 80G Deductions: [Refer article Section 80] There are 4 different sub sections under 80G, which are explained in the before said page-link.
1 comment:
There are several reasons for the HMRC to require an individuals to file self assessment tax returns. The final onus is still with the tax payer to register for filing of self assessment tax return. There are strict deadlines for registering for self assessment tax returns.
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