Key Points
The Income Tax Department has enabled the online income tax return forms, ITR-1, ITR-2 and ITR-4, for FY 2023-24 (AY 2024-25) on the e-filing portal..
With the availability of income tax return forms, taxpayers eligible to file their tax returns using these ITR forms can now file their ITR for FY 2023-24...
A taxpayer can file his/her ITR either completely online on the tax departments e-filing income tax portal or partially online, partially offline using the JSON and Excel utilities...
A taxpayer can file his/her tax return using ITR-1, ITR-2 and ITR-4 depending on their sources of income in the financial year...
ITR-1 can be filed by taxpayers who are resident individuals (other than not ordinarily resident), having income from salaries, one house property, other sources of income such as interest, dividend, family pension and agricultural income up to Rs 50,000 and gross total income from all sources not exceeding Rs 50 lakh in a financial year.ITR-2 can be filed by taxpayers having more than one house property, and those who have earned capital gains.ITR-4 is used by taxpayers having income from business and professions which is taxable under sections 44AD, 44ADA and 44AE...
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