Filing of the Return by Salaried Individuals

ITR Form 1 – AY 2019-20

A resident individual with a total income up to Rs 50 lakh can use ITR-1 to file for AY 2019-20. Such individuals can report salary income, income from one house property, income from other sources and agricultural income up to Rs. 5,000 in this form.

ITR-1 form is no longer applicable to a taxpayer who is a director of a company or has held unlisted equity shares at any time during the financial year.

The individual having salary income will have to report details of the various deductions under “Part A- Income from Salary” section. These details will cover standard deduction, exempted allowances like house rent allowance. Also, it is now required to give income details, like interest received on a savings account and interest received on fixed deposit, under “Income from other sources”.

The last date to file the Return is 31st July.

For any assistance in this regard, contact us.

Our Esteemed Clients

altec audio pvt ltd
dev IT consulting
Excellimatrics Private Limited, Noida
horizon buildcon
Jindal Green Technologies
RTC Industries Private Limited, New Delhi.
Breakson (OPC) Private Limited, new delhi
First Handle Private Limited, Noida
warp speed tech
Star Paper Mills Limited
scenic developers
gupta polymers
dot com pharma
chanan devi agrawal
sky energy
ikris pharma

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