Income Tax filing: Heres what you need to remember; Sahaj, Aadhaar, PAN
Quoting Aadhaar card for filing IT returns will become mandatory from July 1. Heres what you need to keep in mind
Key Highlights:
- Aadhaar becomes mandatory from July 01, 2017
- Individuals having income up to Rs 50 lakh can opt for ITR-1 Sahaj
- PAN must be linked with Aadhaar if you have one
July 31, 2017 is the last day to file income tax returns for assessment year 2017-18. Apart from linking your Aadhaar number with your PAN, we bring you a host of issues that you need to keep in mind before filing your income tax returns.
The Income Tax Department has listed features of Income Tax Return Form – 1 Sahaj.
It said, “From seven page to a single page Income Tax Return form. ITR Form-1 SAHAJ makes income tax return much simpler.”
Click here to have a look at the ITR-1 SAHAJ form.
What is the structure of ITR 1 Form ?
Part A – General Information
Part B – Gross total Income
Part C – Deductions and taxable total income
Part D – Computation of Tax Payable
Part E – Other Information
Schedule IT – Detail of Advance tax and Self Assessment Tax payments
Schedule TDS – Detail of TDS/TCS
Also Read: Aadhaar is must for income tax returns if you have one; Here's how you can file it online
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