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NEW DELHI : You can now alpha filing your assets tax allotment (ITR) for the aftermost banking year 2018-19 with the Assets Tax administration arising ITR forms 1 and 4 from today.



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“ITR 1 & 4 for AY 2019-20 is accessible for e-Filing. Added ITRs will be accessible shortly,” the I-T administration said on its website.

ITR-1 (Sahaj) and ITR-4 (Sugam) forms can be downloaded from the assets tax e-filing website and additionally acclimated for filing your tax allotment online.



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ITR-1 anatomy is meant for citizen and salaried individuals accepting absolute assets of upto ₹50 lakh while ITR-4 anatomy is for businessmen and alone professionals accepting absolute assets of upto ₹50 lakh. HUFs and firms (other than LLP) accepting absolute assets of upto ₹50 lakh can additionally use this anatomy for ITR filing.



Both the ITR forms are about not meant for individuals who are either administrator in a aggregation or has invested in unlisted disinterestedness shares. The I-T administration has said that this has been done in a bid to catch bottomward on carapace companies and analysis acquisition of atramentous money.

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Directors in both listed and unlisted companies will accept to book their tax allotment in ITR-2. It will additionally be binding for them to acknowledge capacity like Administrator Identification Cardinal (DIN), Permanent Account Cardinal (PAN), disinterestedness captivation forth with the names of the companies.

You additionally charge to accumulate in apperception that it is now compulsatory for all those filing ITRs to acknowledgment Aadhaar cardinal in the forms after which the tax allotment will not be processed.

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A PTI address had beforehand said there has been no change in ITR-1 or Sahaj anatomy but some sections in ITR 2, 3, 5, 6 and 7 accept been rationalised.

The aftermost date for filing ITR is July 31 for those who are not appropriate to get their accounts audited.

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It is appropriate to alpha filing your tax allotment as anon as accessible to abstain any penalties for adjournment and additionally to get aboriginal tax refunds.

In 2017-18, the Assets Tax administration added 1.07 crore new taxpayers while the cardinal of ‘dropped filers’ came bottomward to 25.22 lakh. A absolute of 6.87 crore ITRs were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17, the administration said.

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