ITR-1 is also known as SAHAJ form. This return can be filed online directly at portal or it can be filed with ITR-1 utility available at Income Tax India website.
Q.1. Who is eligible to file ITR-1 for AY 2021-22 ?
ITR-1 can be filed by a Resident Individual whose:
Q.2. Who is not eligible to file ITR-1 for AY 2021-22?
ITR-1 cannot be filed by any individual who:
Q.3.What documents do I need to file ITR-1?
You would need Following Documents
ITRs are annexure-less forms, so you are not required to attach any document (like proof of investment, TDS certificates) along with your return (whether filed manually or electronically). However, you need to keep these documents for situations where they need to be produced before tax authorities such as assessment, inquiry, etc.
Q.4. What precautions should I take while filing the return of income?
ITR-2 is also known as SARAL form. This return can be filed online directly a portal or it can be filed with ITR-2 utility available at Income Tax India website.
Q.1. Who is eligible to file ITR-2 for AY 2021-22?
ITR-2 can be filed by individuals or HUFs who:
Q.2. Who is not eligible to file ITR-2 for AY 2021-22?
ITR-2 cannot be filed by any individual or HUF, whose total income for the year includes income from profit and gains from business or profession, and also who has income in the nature of:
Q.3. What are the changes in ITR-2 as compared to previous years?
In ITR-2 of AY 2021-22, you can choose to opt for the new tax regime under section 115BAC. Please note that option for selecting new tax regime u/s 115BAC will be available only till the due date of filing of return u/s 139(1).
Q.4. What documents do I need to file ITR-2?
Q.5. What precautions should I take to avoid issues while filing my ITR?
To avoid issues in filing your return and getting your refund, you must ensure you have done the following:
Linked Aadhaar and PAN.
Pre-validated your bank account where you want to receive your refund.
Choose the correct ITR before filing it; else filed return will be treated as defective and you will need to file a revised ITR using the correct form.
File the return within the specified timelines.
Verify your return – you can opt for e-Verification (recommended option – e-Verify Now) is the easiest way to verify your ITR.
A taxpayer may pay tax in any of the following forms:
The Income Tax Department maintains a database of the total tax paid by all taxpayers, which is called tax credit in the taxpayer's account. The ITD generally allows taxpayers to claim the credit of taxes as reflected in their Form 26AS.
You can take the following action to correct the details in your Form 26AS:
1. Provide a correction statement (via NSDL website) for only those records that require correction.
2. In cases of a mistake made by the Deductor (e.g., your employer), you should contact the Deductor and request them to:
Compare the figures in Form 26AS with that of Form 16 and Form 16A. Mismatches between your Form 26AS and Form 16 or TDS certificates may lead to less refund or more taxes payable. If you find that any of the above details don't match:
a) In case of all assessees (other than the eligible assessees as referred to in section 44AD and 44ADA of the Income Tax Act):
b) In case of eligible assessee as referred to in section 44AD and 44ADA:
100% On or before 15th March
Any tax paid on or before 31st March will be treated as Advance Tax paid during the same FY. The deposit of Advance Tax is made through challan ITNS 280 by ticking the relevant column, i.e., Advance Tax. Self-Assessment Tax: After filling out your ITR form with the TDS and advance tax details (if paid), the system computes your income and checks whether tax is still payable. You need to pay it and then fill in the challan details in the return before submitting it.
You need to check the exemption limit on your donation receipt and claim deduction accordingly while filing your return.