Frequently Asked Questions While Filing ITR Form 1 SAHAJ 

Instructions for Filing ITR 1 SAHAJ For AY 2024-21.  These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income tax Rules, 1962.  Check Instructions for ITR 1 SAHAJ Income Tax Return FY 2019-20.

Frequently Asked Questions While Filing ITR Form 1 SAHAJ

What are the points to be reviewed before filing Income Tax return?

Enclosed points are to be reviewed before filing Income Tax return.

• Make sure the Contact (Mobile) Number, email address and Contract address present in Income Tax website are upto date.
• Review the contents Form 26AS
• Check the status of previous year’s Income Tax Return.
• Review if there are any previous year’s Income Tax return that are yet to be everified.
• Check if there are any items in “For Your Actions” (present in Worklist menu item.
• Check if there are any items present in Compliance portal (can be accessed by clicking Compliance menu item).
• Form 16 (if applicable)

What is the tax treatment when an individual moves (changes job) from one employer to another employer, and holds multiple Form 16s in a Financial Year?

Income (Salary) from all the employers are to be aggregated and to be shown while filing Income Tax return. When employees move from one employer to the another, it is advisable to disclose the previous employer’s income to the current employer based on which Income Tax TDS is calculated and deducted during the year. In many cases, when employees do not disclose previous employer’s Salary / Income, Income Tax TDS is deducted based on the current employer’s earning and Tax might be deducted on lower slabs and additional Income Tax is to be paid while filing Income Tax Return. Interest on additional tax to be paid is applicable.

What is the last date for filing Income Tax return for ITR1?

• The last date for filing Income Tax return is July 31st. But considering the Corona Pandemic, the last date for the Financial Year 2019 – 20 (Assessment Year 2024 – 21) is extended to 31st January 2024
• The last date for payment of Self assessment tax has been extended to 31st Janaury in all cases except where the self-assessment tax payable is more than Rs. 1 Lakh. In case the self-assessment tax of more than Rs 1 Lakh is paid after 31st July, Interest u/s 234A is applicable.

Does Income Tax Department charge any Interest on Income Tax while filing Income Tax returns?

Interest is charged on Income Tax in the below situations

• 234A – Late filing of Income Tax return.
• 234B – Interest on Unpaid Advance tax. if, The Advance tax paid is less than 90% of the total tax to be paid. Subject to self-assessment Tax is greater than Rs. 10,000.
• 234C – Interest for default in payment of instalment(s) of advance tax. This can be either late payment of Advance Tax or Non-payment of advance Tax.

Section	Rate of Interest	Interest charged on	Period on which Interest is calculated
234A	1% per month (or part of the month)	Self-Assessment Tax	Last Date of Filing ITR to Actual Date of Filing ITR
234B	1% per month (or part of the month)	Unpaid Advance Tax	From the first day of the assessment year, i.e., from1st April till the date of payment of Self-Assessment Tax
234C	1% per month (or part of the month)	Short paid amount of Instalment(s) of advance Tax	From the due date of payment of Instalment of Advance Tax to next due date of payment Instalment of Advance Tax.

However, any delay in payment of tax which is due for payment from 20-03-2024 to 29- 06-2024 shall attract interest at the lower rate of 0.75% for every month or part thereof if same is paid after the due date but on or before 30-06-2024.

What happens if the Income Tax return is not filed on time?

• Penalty is charged u/s 234F of the Income Tax Act.

Treatment of Other Incomes in Filing of Income Tax Return

• Review all other incomes like Rent, Interest on Fixed Deposits, Interest on Income Tax Refund, Interest on Savings Account received during the year and disclose them in Income Tax return. Form 26AS can be used to review these details that are already disclosed to Income Tax Department. Also review the details of other Incomes that are disclosed in the previous year’s Income Tax Return.
• Appropriate deductions like 80TTA on Savings Account Interest, etc., can be claimed.

Should Income Tax return be filed for Deceased (expired) person for the period he is alive?

• Income Tax return has to be filed for expired persons for the period, he / she is alive by their legal heirs.
• Legal heir / Family member has to register (apply) themselves as the Authorised Representative of the Expired person in the Income Tax website in the login of Legal Heir / Family member by providing the below documents
  • Death Certificate of the expired
  • PAN of the expired
  • Legal Heir Certificate / Family member certificate issued by the appropriate authority
  • PAN of the Legal Heir / Family member.
• Once approval is received from Income Tax department for the appointment of Legal Heir / Authorised Representative. The Legal Heir / Authorised representative can file the Income Tax return of the deceased for the period he / she is alive.
• Legal Heir / Authorised representative has to be pay the Tax / Interest / Penalty, etc., of the deceased person. The maximum amount payable by the legal heir can be limited to the amount he receives from the property of the deceased person.

Can deductions that are not present in Form 16 be claimed while filing Income Tax return?

• Bills relating to Deductions that are present in Form 16 are reviewed by the employer and included in Form 16.
• Additional deductions can be claimed valid documentary evidences are available

Download ITR 1 SAHAJ For AY 2024-21

Click here to Download ITR 1 SAHAJ

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