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Salaried class can now file IT returns hassle-free as ITR-1 form activated for e-filing

The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in

Reported by: PTI, New Delhi [ Published on: April 17, 2018 19:13 IST ]
Representational Pic
Image Source : PTI

Representational Pic

The Income Tax department has activated the latest ITR-1 form on the official e-filing portal that will make the return filing hassle-free for the salaried class. 

The ITR-1 forms are largely used by the salaried class of taxpayers.

The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in, yesterday. "Other ITRs wil be available shortly," he said.

The new ITR forms for the assessment year 2018-19 mandate the salaried class assessees to provide their salary breakup, and businessmen their GST number and turnover.

The Central Board of Direct Taxes (CBDT), that frames policy for the tax department, had said some fields have been "rationalised" in the latest forms and that there is no change in the manner of filing the ITRs as compared to the last year.

All the seven ITR forms are to be filed electronically except for some category of taxpayers.

The most basic, ITR-1 or Sahaj, to be filled by the salaried class of taxpayers, was used by 3 crore taxpayers during the last financial year.

The form this time seeks an assessees salary details in separate fields and in a breakup format such as allowances that are not exempted, value of perquisites, profit in lieu of salary and deductions claimed under section 16.

These details are provided in the Form 16 of a salaried employee and a senior tax official said that these are now meant to be mentioned in the ITR for clarity of deductions.

The CBDT had said that the ITR-1 can be filed by an individual who "is resident other than not ordinarily resident and having an income of up to Rs 50 lakh.

"Further, the parts relating to salary and house property have been rationalised and furnishing of basic details of salary (as available in Form 16) and income from house property have been mandated," it had said.

The last date for filing the ITR is July 31.

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