sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What to do when you receive a notice from the tax department
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?
 How to e-verify your income tax return? Here are five ways to do it
 Received an Income Tax notice? Here is what you can do
 Here Are 6 Common Mistakes People Commit While Filing ITR Income Tax Filing

Income tax returns filing form-2 released; should you use it? Find out
May, 16th 2018

The Income Tax Department has just released another income tax returns filing form for the assessment year (AY) 2018-19. The new form ITR-2, the third income return form, is now available on official e-filing portal. The ITR-2 is used by individuals and Hindu Undivided Families (HUFs) who have income from any sources except income from profits and gains of business or profession, including NRIs.

With this, the department has activated a total of three Income Tax Returns (ITRs) that includes ITR-1 or Sahaj and ITR-4. These were activated on May 10 on the e-filing website. Four more ITRs are left to be activated still after the CBDT notified these on April 5.

Other ITRs will be available shortly, the department said in an advisory.

The ITR-1 is largely used by the salaried class of taxpayers with income up to Rs 50 lakh from salary, one house property only and additional income such as interest earned from fixed deposits, recurring deposits among others.

The ITR-4 is for professionals and self-employed individuals who have opted for the presumptive income scheme.

The forms have been made available on the website of the department -- https://www.incometaxindiaefiling.gov.in.

The new ITR forms for the assessment year 2018-19 mandate the salaried class assessees to provide their salary breakup, and businessmen their GST number and turnover.

The Central Board of Direct Taxes (CBDT), that frames the policy for the tax department, had said some fields have been rationalised in the latest forms and that there is no change in the manner of filing the ITRs as compared to the last year.

All the seven ITR forms are to be filed electronically except for some category of taxpayers.

The most basic, ITR-1 was used by three crore taxpayers during the last financial year.

The last date for filing the ITR is July 31.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Sitemap

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions