1. ITR 1 Applicability:
ITR 1 can be filed by individuals being a resident other than not ordinarily resident (ROR) having
-Income from Salaries,
-One house property,
-Other sources (Interest etc.) and
-having total income upto ₹ 50 lakhs.
2.Non-applicability of ITR – 1 to non-residents:
ITR-1 is not applicable to
-Non-residents and
-individuals who are resident but not ordinarily so (R-NOR)
Accordingly, NRI and RNOR will now have to file ITR-2/3/4, as the case may be.
3.Due Date: 31st of July,2018
4. Required Document for filing ITR:
-FORM 16 (for salaried class)
-Income from Investments
-Proof for claiming deduction under chapter VI-A
Part A – General Information:
Aadhar information:
–Government has extended last date to link Aadhar with PAN to 30th of June,2018.
–Now, it’s mandatory to quote Aadhar number or Aadhar enrolment id with date & time of enrolment.
- Portuguese Civil code:
If the taxpayer is governed by Portuguese civil code and if there is any income to be apportioned in accordance with the provisions of sec 5A then, they are required to file ITR-2
6.Part B – Gross Total Income:
B1. Detailed breakup of salary like allowances not exempt, value of perquisites, profits in lieu of salary and deductions under section 16 are to be provided now.
B2. Details relating to house property income, like tax paid to local authorities, annual value, 30% of annual value, interest payable on borrowed capital are to be provided now.
