Income Tax Return Filing
All individuals (except for super senior citizens) are required to file their ITRs electronically. The ITR-1 for FY 2018-19 can’t be filed in paper format by the taxpayers having income below Rs 5 lakh with no refund. Unless extended by the govt, July 31 is that the last date to furnish the income tax return (ITR). Although there are several ITR forms counting on the income source, the selection will depend upon the character of one’s own income and accordingly that form has got to be filled up. A self-occupied property is one that’s occupied throughout the year by the taxpayer for his residence. Such individuals need to file ‘Form ITR-1 SAHAJ’ which is to be used “For individuals being a resident aside from not ordinarily resident having Income from Salaries, one house property, other sources (Interest, etc.) and having total income up to Rs 50 lakh.