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Tax payers whose absolute assets for the banking year 2018-19 does not beat Rs 50 lakh are appropriate to book anatomy ITR-1 or ‘Sahaj’. A simplified one folio form, can be filed by individuals accepting assets from either of the sources — salary, one abode acreage (excluding cases area accident is brought advanced from antecedent years), added sources (excluding acceptable from action and assets from chase horses), and agronomical assets up to Rs 5,000 (not for an alone who is either administrator in a aggregation or has invested in unlisted disinterestedness shares).



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If the assessee is clubbing the assets of his/her apron or child, again the absolute assets charge abatement aural the aloft specifications.

Documents appropriate for filing ITR-1: * Abiding annual cardinal (PAN)



* Aadhaar agenda



* Anatomy 16 issued by the employer

* Anatomy 26AS from TRACES

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Structure of ITR-1: ITR-1 anatomy is disconnected into the afterward parts:

* Part A comprises accepted advice like PAN, name, date of birth, Aadhaar cardinal and the likes.

* Part B contains your gross absolute assets

* Part C shows the deductions and taxable absolute assets

* Part D has the ciphering of tax payable

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* Part E contains added advice (details of all coffer accounts captivated by you in India)

* Schedule IT provides detail of beforehand tax and self-assessment tax payments

* Schedule TDS provides detail of TDS/TCS

The new Anatomy 16 requires abundant added capacity — to be appear by the advisers — than the antecedent years. Concurrent changes accept been fabricated in the TDS acknowledgment (details of TDS from employee’s salaries) architecture that is filed by companies with the tax administration to acquiesce the taxman to cross-check an employee’s ITR (income tax return), Anatomy 16 and the company’s TDS acknowledgment easily.

Electronic filing of ITR: * Log in to the e-filing aperture of the Assets Tax administration (www.incometaxindiaefiling.gov.in)

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* If you are a aboriginal time user, annals with your abiding annual cardinal (PAN) — it will be your user ID — and password.

* Bang on the ‘income tax return’ page. Baddest appraisal year, ITR anatomy and acquiescence code.

* One advantage is to download the anatomy as an Excel account from the e-filing website, ample in the appropriate information, accomplish an XML book and again upload it.

* You can additionally baddest the ‘Prepare and abide online’ advantage and again bang on pre-filled fields.

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