File income tax returns in newly introduced ITR 1 (SAHAJ) for salaried individuals and ITR 4S (SUGAM) for small business taxpayers forms for FY 2010-11. Individual taxpayers are required to file their income tax returns for the FY 2010-11 (AY 2011-12) in the latest introduced forms. SAHAJ is the newly designed ITR 1, which replaces SARAL Income Tax Return. This Return form is to be used by an individual whose total income for the assessment year 2011-12 (FY 2010-11) includes: (i) Income from Salary/ Pension; or (ii) Income from One House Property (excluding cases where loss is brought forward from previous years); or (iii) Income from other sources (excluding winning from lottery and income from Race horses) Further, in a case where the incomes of another person like spouse, minor child, etc, is to be clubbed with the income of the assessee this return form can be used only if the income being clubbed falls into the above categories. This return form can not be used by an individual whose total income for the assessment year (FY 2010-11) includes; (i) Income form more than one house property; or (ii) Income from Winning from lottery or income from Race horses; or (iii) Income under the head “Capital Gainsâ€, which are not exempt from tax; e.g. short-term capital gains or long term capital gains from sale of house, plot, etc; or (iv) Income from agriculture in excess of Rs. 5000; or (v) Income from Business or profession. No Document (including TDS certificate) should be attached to this return form. All such documents enclosed with this Return form will be detached and returned to the person filing the return. You can only attach only the supplement schedule TDS1, TDS2, IT only after exhausting the items given in the form. Every individual who have income from sources as said above and if their Taxable Total Income exceeds basic exemption limit as given below would be obligated to file SAHAJ : For resident woman below 65years – Rs. 190000, For any other individual (below 65 years) and every HUF – Rs. 160000, and For resident senior citizen (who is 65years or more) – Rs. 240000.
File income tax returns for FY 2010-11 (AY 2011-12) in new Sahaj or Sugam IT returns
Direct Taxes (including International Taxation) | By ALOK PATNIA | Last updated on Oct 5, 2017
File income tax returns in newly introduced ITR 1 (SAHAJ) for salaried individuals and ITR 4S (SUGAM) for small business taxpayers forms for FY 2010-11. Individual taxpayers are required to file their income tax returns for the FY 2010-11 (AY 2011-12) in the latest introduced forms. SAHAJ is the newly designed ITR 1, which replaces SARAL Income Tax Return. This Return form is to be used by an individual whose total income for the assessment year 2011-12 (FY 2010-11) includes: (i) Income from Salary/ Pension; or (ii) Income from One House Property (excluding cases where loss is brought forward from previous years); or (iii) Income from other sources (excluding winning from lottery and income from Race horses) Further, in a case where the incomes of another person like spouse, minor child, etc, is to be clubbed with the income of the assessee this return form can be used only if the income being clubbed falls into the above categories. This return form can not be used by an individual whose total income for the assessment year (FY 2010-11) includes; (i) Income form more than one house property; or (ii) Income from Winning from lottery or income from Race horses; or (iii) Income under the head “Capital Gainsâ€, which are not exempt from tax; e.g. short-term capital gains or long term capital gains from sale of house, plot, etc; or (iv) Income from agriculture in excess of Rs. 5000; or (v) Income from Business or profession. No Document (including TDS certificate) should be attached to this return form. All such documents enclosed with this Return form will be detached and returned to the person filing the return. You can only attach only the supplement schedule TDS1, TDS2, IT only after exhausting the items given in the form. Every individual who have income from sources as said above and if their Taxable Total Income exceeds basic exemption limit as given below would be obligated to file SAHAJ : For resident woman below 65years – Rs. 190000, For any other individual (below 65 years) and every HUF – Rs. 160000, and For resident senior citizen (who is 65years or more) – Rs. 240000.