ITR Form Online The Income Tax Department has released ITR Forms 1 and 4 online for the convenience of the people. The last date to file ITR is 31 July 2023. Let’s know about it in detail…
The last date to file income tax is fast approaching. In such a situation, the Income Tax Department has also issued 1 and 4 forms of ITR online to facilitate the taxpayers. The department had issued both these offline from 25 April.
According to the notification of the Income Tax Department, for the business year 2023-24, ITR-1 and ITR-4 i.e. both forms are available offline. Both these forms can be downloaded along with pre-field data on the official website of the Income Tax Department. In the online form, you will get pre-filled information like income (Form-16), interest from a savings account, fixed deposit, etc.
Who can file ITR Form-1?
ITR Form-1 is for those taxpayers whose annual income is more than Rs 50 lakh. Along with this, the source of their income is not capital gain or business income. Those taxpayers whose income comes from salary, house property, or any other source can file ITR Form-1.
Who can file ITR Form-4?
ITR Form-4 is for those taxpayers whose income comes from their businesses. This tax is levied on the basis of their income. These taxpayers can apply for a refund by filing ITR Form-4.
What is the difference between online and offline forms?
The online form is different from the offline form in that the taxpayer must download the form, fill it out, and upload it to the e-filing portal. In the offline form, the taxpayer must download the form and then fill it out.
Cross-checks the data uploaded on the taxpayer portal in the online form. If any data is wrong then the taxpayer can easily edit it. Along with this, the online form requires the taxpayer to double-check the Annual Information Statement (AIS) and Form 26AS.
What is the last date for e-filing?
The Central Board of Direct Taxes (CBDT) released the notification for the ITR form in the month of February this year. Currently, ITR is being filed for the business year 2022-23. Taxpayers whose accounts do not need to be audited can file ITR till July 31, 2023.
