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10 changes to know before ITR 1 filing in 2019

If you look into the income sources and house property, he is eligible to file his tax returns using ITR Form 1. (Learn: Which ITR form to fill for Tax Returns for AY 2019-20?) We take you through the entire process of filing the tax return and in case you have never done this before – its very simple. Login to ITR Website

For this year, the format for filing details in ITR 1 is the same as that of Form 16. So, if you are filing itr 1 online then cross-check the pre-filled information with Form 16.

While the deadline for filing the return remains the same at 31 July, one of the biggest change is the introduction of late filing fees of Rs 5,000 (if the return is filed by 31 December) or Rs 10,000 (if filed after 31 December).

Which ITR Form should be used for FY2018-19 (AY2019-20)? Few days back, Central Board of Direct Taxes (CBDT) has issued notification about new ITR forms that are applicable for A.Y. 2019-20 (Financial year 2018-19). While there is no change in ITR1/Sahaj, there are some modifications done for ITR1.

The Income Tax Department has also released the e-filing "utilities" (i.e. excel versions which can be used for online filing) for ITR 1, 2 and 4 for AY 2019-20 which are relevant for individual.

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For Paid Services contact – 7838268244( what’sapp your query pls.) This video is about incometax updates and ITR Forms updated from 1st Aug. 2019 GST book Fi.

New changes made in ITR filing process this assessment year 0.. the provision of late filing fee was there but an individual had to pay 5000/- if he filed the income tax return after 12 months from the year end.. July 10, 2019 0. long term capital gains – How Should You File the Tax.

In brief these are some of the changes which need to be noted, when filing the ITR-1 (SAHAJ) form. Even though you may have filed your ITR last year and know that the process is simpler than before, you can never be too sure.

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Budget announced, now time to update.Brief highlighted points related to Income Tax amendments proposed in Income Tax Act, 1961 under Finance (No. 2) Act, 2019:- 1. The threshold limit for reduced tax rate of 25% in case of domestic companies has been increased from Rs. 250 crores to Rs. 400.

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