Month: July 2024

When filing your Income Tax Return (ITR) using the ITR-1 form, certain documents are essential to ensure accurate and complete reporting. Although ITRs are annexure-less, meaning you don’t need to attach these documents with your return, it’s important to keep them handy for reference and potential future inquiries by tax…

Filing your Income Tax Return (ITR) accurately and on time is crucial to avoid penalties and ensure compliance with tax laws. Here are some key precautions to take when filing your return of income: 1. Choose the Right Tax Regime Carefully select between the old and new tax regimes. Each…

The Income Tax Return (ITR) form ITR-1, also known as Sahaj, is meant for individuals with relatively simple income situations. However, certain types of income must not be reported on this form. Below are the types of income that are excluded from ITR-1: Types of Income Not Included in ITR-1…

For the Assessment Year (AY) 2024-25, certain individuals are not eligible to file Income Tax Return (ITR) form ITR-1, also known as Sahaj. Here is a list of categories and conditions under which individuals cannot use this form: Ineligibility Criteria for Filing ITR-1 Also Read: What documents do I need…