नवीन बदल काय झाले आहेत याबाबत माहिती देणारा लेख — Business Today मध्ये आलेला
- It’s an attempt to simplify the tax filing process and reduce the compliance burden on the tax payer.
- Central Board of Direct Taxes (CBDT) has notified the new simplified income tax return forms for the assessment year 2017/18.
- The New ITR- 1 (Sahaj) Form is a one page form and it can only be filed by an individual with income of up to Rs 50 lakh a year. This will include salaried income, interest income and income from one house property.
- Those who have income of more than Rs 50 lakh or own more than one house property will have to file ITR – 2 Form
- In order to account for those who have deposited Rs 2 lakh or more in a bank account during the demonetisation period, the tax department has introduced a new column where the person filing the tax will have to give details of the money deposited and bank account.
- If a person has deposited Rs 2 lakh or more he or she will mention the IFSC code, name of bank, account number along with the amount deposited in the income tax return.
- Now, mentioning Aadhar number is mandatory for filling income tax return. You have to mention the 12-digit Aadhaar number or the 28-digit Aadhaar enrolment number while filing the income tax return.
- Till last year it was optional to mention the Aadhaar number while filing the return.
- The asset and liability column has been removed from ITR- 1 (Sahaj) form. Earlier a person having income of more than Rs 50 lakh in a year had to declare assets and liabilities while filing the tax return. It has been done away with in ITR-1 as now a person with income over Rs 50 lakh can’t file ITR-1. All the other forms still have the asset and liability column.
- Now, if you have more than one house property, taxable capital gains tax or income from business and profession, then you will have to file new ITR-2 Form.
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