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Saturday, July 20, 2019

Read these stories to make sure you file your ITR error-free

THE ECONOMIC TIMES
Sat, Jul 20, 2019 | 11:55 AM IST

ITR filing guide

Filing ITR-1 this year? You must know about these changes Filing ITR-1 this year? You must know about these changes
Being aware of these procedural changes will make it easier for you to file your income tax return.
Key changes in ITR-1, ITR-2 forms that you need to know

Here are nine changes in ITR forms 1 & 2 that you should know about while filing your return for FY19.

Tax dept will pre-fill your salary, FD interest, TDS details in ITR1 Tax dept will pre-fill your salary, FD interest, TDS details in ITR1
Salary, FD interest income and TDS were earlier manually entered by the individual in the ITR-1 form.
Prefilled ITRs now available for all individuals

According to the latest update, the department has started providing pre-filled XML file containing details such as employer details, allowances and so on.

All the new details required in income tax return forms All the new details required in income tax return forms
The ITR forms for the assessment year 2019-20 are out. Know the changes you need to watch out for.
Which salaried individuals can't file ITR-1 for FY2018-19

There are certain cases where ITR-1 will not apply to salaried individuals for financial year 2018-19.

How to file ITR-1 online How to file ITR-1 online
Individual can file ITR-1 either by downloading excel utility from e-filing website or by 'Prepare and Submit Online' without downloading any software.
How to fill salary details in ITR-1 for FY 2018-19

Unlike last year, you don't have to collect salary slips as ITR-1 and Form-16 are now synchronised, making it easier to fill in your details.

How to compute your total taxable income How to compute your total taxable income
In order to file your I-T return you first need to collect the information required to file it. The next step is to compute your total taxable income.
How to fill 'Tax Details' section in ITR1

The 'Tax Details' tab shows all the details of the tax deducted, collected, and deposited with the government against your PAN.

How to file ITR 1 with salary, home loan and other income How to file ITR 1 with salary, home loan and other income
In this article, we explain the quickest way to file the return in Form ITR-1 using illustrations.
ITR-1 asks for interest income break-up from tax payers

This year you will have to give break-up of your interest income when filing ITR 1.

How to report pension income while filing ITR How to report pension income while filing ITR
As per the recently notified changes, an individual who is a director in a company or who holds unlisted shares, cannot use ITR 1.
Pre-validate your bank account to claim income tax refund

The income tax department has tweaked the process of claiming the tax refund from this year.

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