Reply to Notice u/s 245, Intimations u/s 143(1), Rectification Applications u/s 154

Welcome to TAXSENSE SOLUTIONS - File Returns at https://incometaxindiaefiling.gov.in/

SINCE E-FILING HAS BEEN INTRODUCED, TO FILE YOUR RETURN IT DOES NOT MATTER WHERE (WHETHER INDIA OR ABROAD) YOU ARE LOCATED - CONTACT US TODAY

SERVICES WE PROVIDE: Service Tax, VAT/GST, Account Bks, Stat/Tax/VAT Audits, Company/ LLP/Charitable/Society/Trust Formations, Drafting and registering of All Deeds of Partnership, Gifts, Wills, Agreements etc, ROC Returns, Professional Tax, E-TDS Returns, Assessments/Appeals, Franking (via Email), Finance and Loans for Homes, business, Working Cap, Vehicles, Investments & Insurance, Fin planning, New Pension Scheme etc. (Coming Soon: Business Valuation, International Taxation, Due Diligence, Customs, Excise,XBRL/PF/ESIC & Payroll, Trademark
Registration)

You use the correct form especially if you have exempt income like House Rent Allowance, Conveyance Allowance or any other exempt income of more than 5000.(for AY 2015-16 ie FY 2014-15)


Also declare Savings Bank Interest which is now Tax Free u/s 80TTA

Tuesday, May 18, 2010

Old form with New name & Still easier

It has to be noted that: ITR-1 has been renamed Saral – II E-filing will be also available along the lines of last year ITR-1 New addition to the format of ITR-1 is that an assessee can show ‘Income from House Property’ . The house property income can be from one property only.If more, use ITR-2 .

An assessee can show loss from house property (interest paid) as a negative figure here. This should be deducted to obtain ‘total income’ . The distinct features of Saral-II are that it is to be used by individual taxpayers having salary or pension income, income from one house (excluding brought forward loss from previous years) as well as income from other sources (excluding winnings from lottery).
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