One-page ITR forms for salary up to Rs 50 lakh

Marco Green
April 1, 2017

Either ways, the form has to be submitted along with documents required for IT returns filing (Form 16, etc.). "One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj)", CBDT said in a statement.

At present, ITR 1 also called Sahaj is used by salaried individuals and ITR 2 is for Indians as well as non-resident Indians and Hindu Undivided Families with income flowing in from regular salary, pension, property or even capital gains.

Simultaneously, the number of ITR forms have been reduced from the existing nine to seven. Normally, the tax department notifies new I-T return forms sometime after the start of the financial year.This is the first time that the department has notified it on the last day of the 2016-17 financial year.

Giving the rationale behind the move, a senior official said "While the government has issued notices under Operation Clean Money after it detected certain large suspicious deposits by people, there could be other instances of deposits of over Rs 2 lakh being made".

The government has notified a simplified version of Income Tax Return form for individuals for assessment year 2017-18.

In the new form, parts relating to tax computation and deductions have been rationalised and simplified for easy compliance.

If you are not already registered, you need to register yourself on the tax filing website of the income tax department. The form can filled up electronically from April 1, Saturday, and the stipulated deadline for filling the tax forms is July 31.

Once you fill in your personal details and information on taxes paid, your TDS will be auto-filled. ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam), respectively, it said.

Further, in line with the changes proposed to the income-tax Act, providing the Aadhaar number or the Aadhaar enrolment number in the income-tax return form has been made mandatory. In such cases a paper form can be filed.

Other reports by Click Lancashire

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