As per rule 12 (Updated for AY 2014-15) (notification 24/2014 dated 01.04.2014) of income tax rules, income tax return can be filed using four modes. 1. Return in a paper form 2. Return electronically under digital signature; 3. Transmitting the data in the return electronically and thereafter submitting the verification of the…
Income tax department has published the latest Online e-File Income Tax Return Procedure for Assessment Year 2013-14. In this new procedure, tax payee can free download ITR-I to ITR-4S (Excel Base) to upload online XML. The complete procedure is as follows: e-File Income Tax Return Online 1. Income Tax Return (ITR-1/ITR-4S) is available online. To avail this feature, Assessee should register,…
Relevant Sections of Income Tax Act, 1961: 139(1), 139(3), 139(4A), 139(4B), 139(4C), 139(4D), 142(1), 148(1), 153A All Applicable Return Forms for A Y 2013-14: ITR-1 (SAHAJ), ITR-2, ITR-3, ITR -4S (SUGAM), ITR-4, ITR-5, ITR-6, ITR-7 Filling of Income Tax Return in ITR-1 (SAHAJ) Assessee Category: Only Individuals Conditions: Total Income Includes = 1. Salary/Family Pension 2….
Scope of ITR-1 (Sahaj) form has been reduced in AY 2013-14 significantly. In comparison to last year,two main points has been added under restriction ,first persons is that assessees who have negative income under head “Income from other sources” can not use this form and second main point is that if assessee’s exempted income is more than…