If you also have to file income tax return, then this news is useful for you. Online forms for ITR have not yet been issued by the Income Tax Department. But offline ITR-1 and ITR-4 forms have been issued for filing Income Tax Return (ITR) for the financial year 2023-24. Offline ITR-1 and ITR-4 forms have come after the CBDT issued a notification in February.
Such people will be able to fill ITR-1 and ITR-4
According to the Income Tax Department’s website, ‘Excel utility of ITR-1 and ITR-4 for assessment year 2023-24 are available for filing.’ ITR-1 for people whose total income is less than Rs.50 lakh or up to Rs.50 lakh. Also, he has a house and income from other sources and agriculture up to Rs.5,000. Apart from this, ITR-4 (ITR-4) is for Individual and Hindu Undivided Family.
ITR-4 is for these people
If your income is more than Rs 50 lakh or income from agriculture up to Rs 5000 under section 44AD, 44ADA or 44AE from business or any profession like medical-advocacy, then ITR-4 is for you. In the offline method, taxpayers will have to download the relevant form. After this it will have to be filled and uploaded on the portal of the department. However, on the other hand, taxpayers can give information about their income directly on the income tax portal in the online form.
For salaried class individuals to file their ITR easily, Form-16 issued by the employer will be necessary. The last date for issue of Form-16 by the employer is June 15. There is no need to audit the accounts of such taxpayers. On the basis of Form-16, you can file income tax return by 31 July 2023.
