10 changes to know before ITR 1 filing in 2019
NEW DELHI: The deadline for filing income tax return (ITR) for the financial year 2018-19 is July 31, 2019. Taxpayers are, therefore, advised to file their ITR before July. if it exceeds Rs 1 lakh..
These are the changes in ITR forms you must know before filing for AY 2018-19. Filing your ITR can be a very complicated process. It is crucial to be patient and choose the correct ITR form applicable to you. Please note the changes before choosing the form to avoid errors.
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Read more about FAQs: 10 key things you must know about income-tax return (ITR) filing on Business Standard. What are income-tax returns? Must you file them? What if you did not? What are the benefits of filing an ITR? How do you get a refund for any excess tax deducted? Find answers to all your questions
Changes resulting from the postcard-size tax-filing form will be effective in the 2019 filing season. There are sweeping changes to the tax code, such as the Republican tax overhaul, that are still being defined and implemented, and now there is a new tax form with a host of new schedules that isn’t even finalized yet. Depending on what happens in the November elections, Congress could make still more changes.
ITR filing: What is Sahaj, details of new changes and how will it benefit you, 10 points – For assessment year 2018-19, the last date to file ITR is July 31.
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ITR 2018-19: Six changes in itr 1 form that you must know description: salaried employees with income below Rs 50 lakh per year and one house property need to fill ITR1 from while filing income tax return. There are changes made in ITR 1 form which if not complied can result in a notice from the income tax department.
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· Almost all of the Tax Cuts and Jobs Act (TCJA) changes that will affect individual taxpayers kick in starting with your 2018 Form 1040. Here are the 10 changes that are most like to.