ITR: Income Tax Department started new service for ITR-1 and ITR-4 for assessment year 2022-23, taxpayers will benefit, know here

0
1829
Income tax rules changed: Big news! Income tax will no longer bother small taxpayers, know what happened in the rule change
Income tax rules changed: Big news! Income tax will no longer bother small taxpayers, know what happened in the rule change
- Advertisement -

Income Tax Department: The Income Tax Department has started the e-filing of ITR 1 and ITR 4 for the assessment year 2022-23. According to the information given on the website of the Income Tax Department, e-filing of ITR 1 and ITR 4 for the assessment year 2022-23 can be done on the Income Tax website. Now taxpayers can download ITR offline.


Last week, the Central Board of Direct Taxes (CBDT) notified Income Tax Return (ITR) Forms 2021-22. Income tax returns have remained almost the same for the last two years.

According to the website of the tax department, ITR-1 can be filed by a Resident Individual.

  1. The total income during the financial year should not exceed Rs 50 lakh
  2. Income includes salary, house property, family pension income, agricultural income and income from other sources.
  3. Interest from savings accounts
  4. Interest on income deposited in bank/post office/co-operative society etc.
  5. Interest on income tax refund
  6. Any other interest income
  7. Family pension
  8. Spouse’s income

Taxpayers can file returns through ITR-4.

  1. ITR-4 can be filed by Firms, HUFs and Resident Individuals whose income exceeds Rs 50 lakh in a financial year.
  2. Income includes salary, house property, family pension income, agricultural income and income from other sources.
  3. Interest from savings accounts
  4. Interest on income deposited in bank/post office/co-operative society etc.
  5. Interest on income tax refund
  6. Any other interest income
  7. Family pension
  8. Income from business and profession
  9. Income from lotteries and horse races

Can download like this

  • Click on Register User e-Filing portal
  • Enter user ID and password for offline utility
  • ITR-1 to ITR-4, or ITR-5 to ITR-7 can be downloaded offline.

- Advertisement -
DISCLAIMER

We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com