The Government has made various changes when it comes to filing your income tax returns. For instance, Aadhar number has been made mandatory requirement in filing income tax returns. Even the Income Tax Forms have been changed for the Assessment Year 2017-18. Income Tax Forms always tend to confuse and leave taxpayers baffled about which form to fill to file their returns. Income tax returns should be filed by all individuals whose income is above Rs 2.5 lakhs. For individuals whose salary is over Rs 5 lakhs, it is mandatory to file their returns online. The process for filing the returns remain same, only the forms have been changed. Also Read: Reduce your tax to zero | All you need to know about Form 26AS | How to file ITR if you don’t have Form 16As the income tax return date of July 31, 2017 is round the corner, let us take a look at different ITR Forms and their applicability. • ITR – 1 a.k.a. SahajThe Income Tax Department has simplified the tax filing process by introducing ITR – 1 Form which is also called Sahaj. This form is a one-page form which is easy and quick to file…. Read full this story
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