This facility will be a boon for a salaried person /
pensioner earning interest on deposits also. The following details will
be pre-filled by the Income Tax Department .
1. PAN Number , Name and date of Birth
2. Address . AAdhaar number , Mobile Number and e-mail address
3. Tax Paid , TDS and TCS Details ( From FORM 26AS )
4. Salary Income , Allowance and Deductions ( From Form 24Q )
5. House Property Details ( From ITR of Previous Year )
6. Interest Income & TDS ( From 26AS )
7. Tax relief under Sec 89
8. Bank account Details ( From ITR of previous year )
9 . verification Details .
However IT Department advises you to verify the pre-filled data carefully and add any other taxable income which is not pre-filled. . Further Last date for filing of TDS statement and issue of TDS certificate by Deductor is 30th June, 2019 and 10th July, 2019 respectively. In case the TDS data or any other data is yet to be submitted by the Deductor , taxpayers are expected to fill these details themselves.
1. PAN Number , Name and date of Birth
2. Address . AAdhaar number , Mobile Number and e-mail address
3. Tax Paid , TDS and TCS Details ( From FORM 26AS )
4. Salary Income , Allowance and Deductions ( From Form 24Q )
5. House Property Details ( From ITR of Previous Year )
6. Interest Income & TDS ( From 26AS )
7. Tax relief under Sec 89
8. Bank account Details ( From ITR of previous year )
9 . verification Details .
However IT Department advises you to verify the pre-filled data carefully and add any other taxable income which is not pre-filled. . Further Last date for filing of TDS statement and issue of TDS certificate by Deductor is 30th June, 2019 and 10th July, 2019 respectively. In case the TDS data or any other data is yet to be submitted by the Deductor , taxpayers are expected to fill these details themselves.
How to Get Pre-filled Forms ?
1. Login in to the website https://www.incometaxindiaefiling.gov.in/home
2. Go to Dropdown Menu of "' MY ACCOUNT "
3. Chose " Download Pre-filled XML "
4. Select Assessment year 2019-20 and Form no ITR1 / ITR4
5. Once you press continue button , you will get DOWNLOAD XML .
BEFORE SUBMITTING , CHECK YOURSELF WHETHER YOU ARE ELIGIBLE
TO SUBMIT ITR1 / ITR 4 AND WHETHER THE
DETAILS FILLED ARE CORRECT AS PER THE RECORDS YOU ARE HAVING .
IN CASE OF ANY DISCREPANCY , TAKE UP WITH YOUR TAX DEDUCTOR FOR
CORRECTION
AND RECTIFY ALREADY FILLED UP FORM AND ADD
ANY MISSING ITEM BEFORE SUBMISSION.
Dated 26.06.2019 : Income Tax Department has since revised IT Return forms ITR 2 , ITR 3 and ITR 5 for FY 2018-19 in order to accommodate entries arising
out of Long term Capital gains (LTCG) .
In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for each scrip or units of mutual fund sold during the year and aggregated amount should be provided in the returns .
In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for each scrip or units of mutual fund sold during the year and aggregated amount should be provided in the returns .
Hence item No. B4 (ITR 2)/B5( ITR 3)/ B5(ITR
5) (in case of residents) or item No. B7 (ITR 2)/B8(ITR3) /. B8(ITR5)
(in case of non-residents) have been introduced by
IT Department . The Utility available in
IT Department's website has been updated and relevant validation rules are relaxed .
CLARIFICATIONS ON ISSUE OF FORM 16 BY EMPLOYER :
Employer is obliged to issue to its employees Form 16
(Certificate for tax deducted at source for salary)
before 15th June of the assessment year so that employee can file his
Income tax return before the due date For FY 2018-19 ( AY 2019-20 ) .
DUE DATE TO SUBMIT IT RETURN IS 31.07.2019 .
(Employers are since given extended time up to 10th, July
2019 for issuing revised Form 16 by the IT
Department)
Please obtain following information from the employer if you have perquisites exempted from Income Tax :
1. Death–cum-retirement gratuity received
2. Commuted value of pension received
3. Earned leave encashment on retirement
4. Amount received/receivable on voluntary retirement or termination of service
5. Leave Travel concession/assistance
6. Tax paid by employer on non-monetary perquisite
7.House rent allowance .
8. Prescribed allowances or benefits specifically granted to meet expenses incurred in performance of duties of office or employment .
9. Prescribed allowances or benefits granted to meet personal expenses in performance of duties of office or employment or to compensate for increased cost of living.
10 .Allowances or perquisites paid or allowed as such outside India by
the Government to a citizen of India for rendering services outside
India .
11. Remuneration received as an official, by whatever name called, of an Embassy, High Commission etc
12 . Any other allowance received
ISSUE OF TDS CERTIFICATE IN FORM 16A BY BANKS :
Banks / Financial institutions are obliged to issue to their deposit holders employees Form 16A.
11. Remuneration received as an official, by whatever name called, of an Embassy, High Commission etc
12 . Any other allowance received
ISSUE OF TDS CERTIFICATE IN FORM 16A BY BANKS :
Banks / Financial institutions are obliged to issue to their deposit holders employees Form 16A.
For detailed illustrations issued by IT Department:
WHO IS OBLIGED TO FILE IT RETURNS ?
Every individual or Hindu Undivided Family ( HUF ) is obliged to submit Income Tax returns if they meet following criterion .
1. Income exceeding Rs 2,50,000 in case of individuals below 60 years
2. Income exceeding Rs 3,00,000 in case of individuals above 60 years and below 80 years
3. Income exceeding Rs 5,00,000 in case of individuals above 80 years
Note : Income means total income in the financial year 2018-19 before allowing deductions under chapter VI -A of Income tax act .
Submission of IT Return is not complete without verifying the same . For various ways of verification.
ITR 1 , ITR 2 , ITR 3 and ITR 4 can be e-filed on
Incometaxefiling site .
As per amended section 270A of Income Tax act , mis-reporting of income may be fined 50 % of tax upto 200%
As per amended section 270A of Income Tax act , mis-reporting of income may be fined 50 % of tax upto 200%
Due Date for filing IT Returns for individuals for
FY 2018-19 is 31st , July 2019 .
You require following documents before starting to fill up IT Returns . As some time is required to collect from the relevant issuers , you may contact them at the earliest if you have not obtained so far . If you don't have AADHAR ,
You require following documents before starting to fill up IT Returns . As some time is required to collect from the relevant issuers , you may contact them at the earliest if you have not obtained so far . If you don't have AADHAR ,
APPLY NOW AND OBTAIN ENROLLMENT ID OF AADHAR
APPLICATION
1. Your AADHAR NUMBER / CARD
2.Salary certificate / Form 16 issued by employer in the new format ,
3.Interest certificates ,
4. Life Insurance premium certificates , health Insurance premium paid certificates ,
5. Bank account statements for housing loans and savings bank accounts etc
6. TDS Certificates from employers / Deposit holders
7. Form 26 AS which shows the tax amount already credited to your account
8. Capital gain certificates / statements from your stock brokers
9. Copy of last year return submitted .
10. Your bank name , account number and IFSC code of the bank branch
11 . Any other relevant documents if you have any other income
b. Link your Aadhar number to income tax e-filing website
c. Verify Taxes paid already in Form 26AS and confirm that all tax deducted for you by your employer / bank as given in Form 16 or Salary receipt is credited to your account with income tax department . You can
1. Your AADHAR NUMBER / CARD
2.Salary certificate / Form 16 issued by employer in the new format ,
3.Interest certificates ,
4. Life Insurance premium certificates , health Insurance premium paid certificates ,
5. Bank account statements for housing loans and savings bank accounts etc
6. TDS Certificates from employers / Deposit holders
7. Form 26 AS which shows the tax amount already credited to your account
8. Capital gain certificates / statements from your stock brokers
9. Copy of last year return submitted .
10. Your bank name , account number and IFSC code of the bank branch
11 . Any other relevant documents if you have any other income
b. Link your Aadhar number to income tax e-filing website
c. Verify Taxes paid already in Form 26AS and confirm that all tax deducted for you by your employer / bank as given in Form 16 or Salary receipt is credited to your account with income tax department . You can
view 26 AS ( Tax Credit ) in the
income tax department's website by logging in .
d. Tax returns are made simple now . If you are eligible to file IT Returns ITR 1 (SAHAJ ) , you can now prepare and submit on line itself on the income tax e-filing website You may yourself file on line or use or utilise the service of Tax Return Preparers ( TRPS ) authorised by Income Tax Department ., if you are not confident of using the on -line services . Otherwise you may use your chartered accounts for the job .
d. Tax returns are made simple now . If you are eligible to file IT Returns ITR 1 (SAHAJ ) , you can now prepare and submit on line itself on the income tax e-filing website You may yourself file on line or use or utilise the service of Tax Return Preparers ( TRPS ) authorised by Income Tax Department ., if you are not confident of using the on -line services . Otherwise you may use your chartered accounts for the job .
The benefits of filing tax returns early is
1. You will have sufficient time to collect relevant documents , prepare , cross check and then submit . You can reduce errors .
2. As the income tax servers would be relatively free , last minute slowdown of
computers due to heavy rush for submissions .
3. Processing of your returns by IT department would be faster and you will get refunds faster .
4. You will be avoiding penalties , interest etc levied on belated submission .
So take steps now to have advantages of filing IT Returns early
3. Processing of your returns by IT department would be faster and you will get refunds faster .
4. You will be avoiding penalties , interest etc levied on belated submission .
So take steps now to have advantages of filing IT Returns early
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