COMPLETE INFORMATION RELATED TO INCOME TAX RETURN !



COMPLETE INFORMATION RELATED TO INCOME TAX RETURN !
COMPLETE INFORMATION RELATED TO INCOME TAX RETURN !

TABLE OF CONTENTS 

  1. Easy form
    • Who can not fill the form easily
    • Form structure
  2. Parts of the form 
    • Part A
    • Part B
    • Part C
    • Part D
    • Part E
  3. leading Change 
    • Base number
    • Demonetisation
    • That information
    • One Page ITR Form
  4. ITR-1 form filling documents
  5. How to enter ITR-1 form 
  6. E-verification 

     ITR-1 INTUITIVE FORMS

ITR-1 Intuitive form is the most widely used by individuals in India for filing their income tax returns with Indian Income Tax Department.

 The person eligible for this form will be the person whose income is within 50 lakh and he has earned his income for the financial year through salary or pension.

Under the intuitive form, the Income Tax Department has made it mandatory for all taxpayers to link the Aadhaar card with PAN.

ITR -1 FORM SPONTANEOUS ORIGIN AS FROM THOSE KRDATAW THE ORDER IS WHOSE GROSS INCOME ANY FINANCIAL YEAR TO 50 MILLION FROM HIGHER FOLLOWING WRITTEN SOURCES TO NOT BE :
  1. Income from salary or pension
  2. Income from any one residential house
  3. Income from other sources (excluding betting earnings)
IN WHAT CIRCUMSTANCES THE TAXPAYER 'S BY ITR - STATEMENT FILED NOT TO BE MAY |
  1. Those earning more than Rs. 50 lakhs can not use this form.
  2. Non resident and abnormal resident can not file return using ITR-1.
  3. Apart from this, those people who have earned income through the following means are not eligible to file an ITR-1:                                                                                                                      
  4. i) The person whose income comes from more than one house property.
    ii) The person whose income is from middle speculative business such as lotteries, resorts, legal gambling etc.                                                                                                                           
    iii) The income of the person whose income includes taxable capital gains (short term and long term).                                                                                                                                                       
    iv) The person whose agricultural income is more than Rs. 5000 / -
    v) The person whose main source of income is business and profession.
    vi) A person who is a resident and has the signature of the Authority in India (including financial interest in any unit) or any account outside India.
Example: -

 Sharma is native to India. Sharma is the Branch Manager of State Bank of India, Chief Branch, Mumbai, last year Sharmaji, the eldest daughter has gone to America to get higher education.

Sharma ji bought a house to stay the big daughter so that there is no problem. The total income of Sharma ji is 45,78,500 rupees.

In the above example,

Yoga is the way to meditate. First Sharma ji is resident of India, second his income is less than Rs 50 lakh and third is home in America in his name. The third argument is not the sum of filling of Karan Sharma ji ITR-1 (instinctive).

WHAT IS THE STRUCTURE OF ITR- FORM ?

PART A - GENERAL INFORMATION |
PART B - GROSS TOTAL INCOME.
PART C - DEDUCTION AND TAXABLE TOTAL INCOME.
PART D - COMPUTATION OF TAX PAYABLE.
PART E - OTHER INFORMATION |
SCHEDULE IT - EXPANSION OF ADVANCE TAX AND PAYMENT OF SELF ASSESSMENT TAX.
SCHEDULE TDS - TDS / TCS DETAILS.

ITEM ITEM DIRECTIONS

PART GENERAL INFORMATION :

Under normal information, the taxpayer has to provide the following information, your permanent account number (PAN). Make sure you fill your pan carefully: -

- PAN card number |

- The full name of the taxpayer, it is necessary that the name of the taxpayer corresponds to the information given on the PAN card.

- It is mandatory to provide the information of the Aadhar card under the Aadhaar number, the intuitive form.

- Mobile number and email |

- The address of the taxpayer, which will be used by the Income Tax Department for correspondence.
- Income tax provision under which income tax return is being filed.

a. Voluntarily on or before the due date under section 139 (1) 1: - Income tax is mentioned in this section that the final day of filing ITR-1 is mentioned.

come. Voluntarily after the due date under section 139 (4) 2: - There is a provision to fill ITR1 in this section even after the last date.

I. Revised returns under section 139 (5) 3: - This section can be modified in the income-tax returns filled with medium.

On application to be made separately under Section 119 (2) (B): - To avoid actual difficulty, CBTT To authorise an authorised application, the Income Tax Authority authorises to be claimed for any deduction, rebate, withdrawal or any other relief even after termination of the delayed statement.

PART GROSS TOTAL INCOME : -

In the income tax return, the taxpayer has to give information to the Income Tax Department of the gross total income, for which he has to submit Form 16, in respect of salary income, the following information is to be given:
B1: - PAY / PENSION
i) Basic salary.
ii) Taxable allowances.
iii) the value of perquisites.
iv) Benefits in lieu of salary and
v) Choice under section 16: - Entertainment allowance, payment of professional tax, etc.
Fill the salary / pension, taxable allowances, value of perquisite and details of benefits instead of salary, by matching the certificate issued by the employer (Form 16). If the taxpayer feels that the calculation of his income in Form 16 is not correct, then he can calculate himself and fill it.
B2: - HOUSE PROPERTY: -
Fill gross rent receipts, payment of municipal taxes and interest paid on the borrowed capital. The house can be used in two parts for the first self and the second for rent.

 The usage of the house will determine which column should be written in it. The gross rent for home use is zero and the details of interest are Rs. 200000. Other columns are goods in both cases.
B3: - INCOME FROM OTHER SOURCE: -
In this column, the taxpayer shows the income of its other sources such as interest on savings account, interest on fixed deposit etc.
B4: - TOTAL GROSS INCOME
This column shows the total gross income of the taxpayer. This is the sum of B1 + B2 + B3.

PART CUTS AND TAX TAXABLE TOTAL INCOME : -

The main katotia available under this part, which are as follows

80 C : Payment or deposit for life insurance, contribution to provident fund established by the government, contributions to provident fund, contribution to approved retirement fund, national savings certificate, tuition fees, payment for the purposes of purchase / purchase of a residential home And many other investments.

As provided in Section 80CCE, the total amount of deduction under 80C, 80CCC and sub-section (1), 80 ccc will not exceed Rs. 1,50,000.
80 D: Regarding medical insurance premium for 80D deduction, contribution to CGHS, medical expenditure can be claimed, but under the following limitations;

(A) Health Insurance Premium
  1. Self, spouse, dependent child (total): - 25,000 / -
  2. Parents- 25,000 / -
  3. Senior citizen or very senior citizen - 30,000 / -
  4. Premium paid by HUF for health insurance of any member of HUF- 25,000 / -
(B) Medical expenditure in case of a senior citizen (more than 80 years)
Where no amount has been paid for their health insurance: -
  1. On self- 30,000 / -
  2. Parents- 30,000 / -
  3. On HUF member paid by HUF- UF 30,000 / -
80 G: deduction in respect of donations to some funds, charitable institutions etc. - like Shri Venkateswara Anna Prasadam Trust, Sri Saibaba Institute Trust, Shirdi etc.
80 TTA: deduction of interest on deposit in savings account - maximum deduction upto Rs. 10,000.

PART COMPUTATION OF TAX PAYABLE

Under this section various steps of income tax fraud are included
1. Total taxable income.
2. Available rebate amount.
3. Crafts of Education Cess.
4. Under the intimation of interest provision 234A, 234B & 234C.
5. TDS and Customisation Tax Payment Information.
SCHEDULE IT ADVANCE TAX OF EXPANSION AND SELF- ASSESSMENT TAX TO PAY :
Tax payments made by you, i.e. advance tax and self-assessment information. This information is given in four columns.

First bsr Code This information can be extracted from taxpayer income tax invoiced, it is a seven digit number, the second payment is also received on the invoice, the third challan number means the invoice has been generated through the invoice The number also gets on the invoice, it is a five digit number and the fourth is Yoga, by which Yoga has been invoked. Examples: - 0014431, 18-01-2019, 00848 and 12500 etc.
SCHEDULE TDS DESCRIPTION OF TDS TCS :
In relation to salary earnings, submit the details as per Form 16 issued by the employer and in relation to interest income and other sources of income, according to the form 16A issued by a person.

According to the Form 27D issued by the tax collector, details of TCS can also be presented.
In order to enable the Income Tax Department to provide accurate, fast and complete credit for the tax deducted at source, the taxpayer must quote the full description of each TDS / TCS transaction.
TAX DEDUCTION AT TDS1 SALARY SOURCE: -
In this tab, the taxpayer gives information on tax deduction for his salary. This information is to be given in four columns.

The first tax deduction account number (Tan number) can be withdrawn from this form 16, the second employer's name can also be removed from the form 16, the income from the third leg can be seen from the "B" portion of the tax payer and the fourth Tax deduction This information can also be withdrawn from Form 16. Example: - BPLI021451L, Time Zone Pvt. Ltd., 456000 and 12000 etc.
TAX DEDUCTION AT SOURCE OTHER THAN TDS2 SALARY: -
In this tab, the taxpayer gives information on tax deduction at other income sources other than his salary. This information is to be given in six columns.

 The first tax deduction account number (Tan number) can be obtained from this form 16 "A", the name of the second detector can also be removed from Form 16 "A", the third total income on which TDS is deducted, the fourth year The deduction is, how much tax deduction this information can be derived from Form 16 "A" and how much of the sixth tax deduction is to be used in this year. Examples: - BPLI021951L, Trade Zone Pvt. Ltd., 560000, 2018, 56000 and 56000 etc.
TAX COLLECTION AT TCS3 SOURCE: -
In this tab, the taxpayer gives tax information on his other income source. This information is to be given in six columns.

The first tax collection account number (Tan number) can be obtained from this Form 27 "D", the name of the second collector can also be removed from Form 27 "D", the third total income on which TCS is deducted, the fourth year This collection is also archived and can be collected from 27 "D", and how much of the sixth collection is used in this year. Examples: - BPLI011951L, Real Trade Private Limited, 5060000, 2018, 50600 and 50600 etc.
TAX FREE INCOME
UNDER SECTION 10 (38): -
Under this section of the Income Tax Act, 1961, the taxpayer is entitled to income of income of long-term capital gain, income tax.

  This is the income on which the Securities Transaction Tax (STT) has been paid, i.e. when the taxpayer sells after 12 months and it is profitable on this transaction, then this income is tax free from this stream Goes.
UNDER SECTION 10 (34): -
Under this section of the Income Tax Act, 1961, the taxpayer is entitled income of dividend to Indian companies, income tax free.


 If the taxpayer has invested in any Indian company and the company has given dividend of its shareholder, then the dividend shareholder will be tax free through this section.
AGRICULTURAL INCOME:
The taxpayer can show the income of his agriculture in this column, but this income should not exceed Rs. 5000 and if so, the taxpayer will have to fill his income details in another form.

PART OTHER INFORMATION

Please provide details of all savings and current accounts held by you at any time during the previous year. However, it is not mandatory to provide details of passive accounts, which are not operational for more than 3 years.


 Please indicate the account in which you want to get your money back, even if you have a refund or not. The account number should be according to the bank's Core Banking Solution (CBS) system.


The deposit amount should also be filled in the said bank accounts from 09.11.2016 to 30.12.2016. If cash is deposited during the period from 09.11.2016 to 30.12.2016 in any account other than the current and savings accounts (i.e. loan accounts etc.), then the details of such account reflects the cash deposited in the said account during the said period. is. Also be provided.


It can be noted that the details of deposited cash are to be provided, if the cash amount deposited during the period 09.11.2016 to 30.12.2016 is 2 lakh or more.

BANK ACCOUNT AND OTHER BANK ACCOUNTS

This is a mandatory information that the taxpayer must give. This information will be given in three columns, the first IFSC code is different from the branch of each bank, the other is the name of the bank and the third account number. The information that the taxpayer has at his right bank account should be provided.

VERIFICATION

This is an important part of the income tax return. Verification, who is full of this statement, can be filled up by two people, only the taxpayer and the second tax returner.


Verification in both the slave is mandatory. If the description is filled by itself, then the name of the father, the name of the father, the capacity and the space of his own will be filled.

 And if the narrator, the narrator is filled with the information, then he will have to give his name, identity number, TRP with this information.

CHARITY 80G: -

If the taxpayer has donated it in 80G, then this information has to be given to get the discount. There are four types of charity donated in 80G: When giving information, ensure the correct column. All four types depend on the donation given.

The four types are different from the name, with 100% discount quality limit, with 50% discount quality limit, without 100% discount quality limit, without 50% discount quality limit.


The following information is mandatory in all four types, name, address, city, state, pinkoda, PAN number of donor, amount of donation etc.

MAJOR CHANGES BETWEEN ITR 1 TO BE GIVEN TO

  1. BASED ON THE NUMBER OF QUOTES MUST HAVE : -
It is compulsory for every person to quote the Aadhaar number in the return of income. If a person does not have the Aadhaar number, but he had applied for Aadhaar card, he can cite the enrollment ID of the Aadhaar application form in the ITR.
  1. DEMONETIsATION OF THE CASH DEPOSIT OF REVELATION : -
During the November 9, 2016 to December 30, 2016, a new column has been introduced in all the ITR forms to report on the cash deposited by the taxpayers in their bank accounts.

However, the taxpayer only needs to fill this column. If they have deposited Rs.2 lakh or more during the monetization period
  1. ALL BANK ACCOUNTS TO DISCLOSE : -
Details of all savings and current accounts should be provided at any time during the previous year. However, it is not mandatory to provide details of passive accounts, which are not operational for more than 3 years. The account number should be according to the bank's Core Banking Solution (CBS) system.
  1. SALARIED CLASS TAXPAYERS AND TO PAGE ITR FORM
Now the government has notified a page form ITR-1 instinctively for persons having income of Rs 50 lakh from income from salary, pension, a house property and other sources. It has removed columns that are not often used by taxpayers like:

i) The new 'ITR-1 facilitator' has retained deductions that are used by tax payers most often, such as under Section 80C, 80D, 80G and 80TTA. If any taxpayer wants to claim deduction under any other provision of Chapter VI-A, he can specify. The relevant section titled 'Any other'                                   
ii) TDS and TCS schedules have been merged together to make ITR 1 smaller and easier.                       
iii) New columns have been inserted to report long-term capital gains under the income of Dividend 10 and Section 10 (34) and Section 10 (38). It is compulsory to file e-tax returns for people with long-term capital of Rs 2.5 lakh or more, even though their taxable income is less than 2.5 lakh.

YOUR ITR-1 FORM TO FILL OUT BEFORE YOU WHICH DOCUMENTS TO BE THEY ARE :

Form 16s : Issued by all your employers for the given financial year.

Form 26AS : Remember that the TDS mentioned in Form 16 matches the TDS in Form A of your Form 26AS.

Receipts : If you have not been able to present proof of some exemption or deduction (such as HRA allowance or section 80C or 80D deduction) to your employer on time, then hold these receipts directly to claim your income tax.

Pan card

Bank investment certificate : interest from bank account details - bank passbook or fd certificate

SEAMLESS ITR-1 FORM TO ENTER THE GO CAN HAVE : -

You can submit your ITR-1 form online or offline. From the financial year 2013-14, all taxpayers who earn more than Rs. 5 lacs will have to submit income tax returns electronically.
OFFLINE :
Those people whose age is more than 80 years or personal and HUF total income is less than 5 lakh rupees and there is no claim of refund in exchange for income, there is an option to file returns in the paper form. Only one copy of the return form needs to be filed.

 After you submit your physical paper return, you will receive an acknowledgment from the Income Tax Department; After that the acknowledgment / ITR-V should be duly filled.
ELECTRONIC OR ONLINE TRANSMISSION :
By transmitting data electronically and then in the form of ITR-V, CPC, Bengaluru will have to submit verification of returns. Or you must verify e-mail.


E-Verification Taxpayers can be e-Verify for ITR-V through their Net Banking Account / Adhere OTP / E.C.C. If you submit your ITR-1 form electronically, the acknowledgment will be sent to your registered email id.

You can also download it manually from the Income Tax website.

You will not have to sign it in the CPD office of the Income Tax Department in Bangalore within 120 days of e-filing.

thanks for the time .

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