New ITR-1 Form Now Available For E-Filing

The ITR-1 form, which is used by the salaried class of taxpayers is now available for e-filing your income tax returns for FY 2017-18 (AY 2018-19) as per a notification on the IT Department's official website www.incometaxindiaefiling.gov.in.

The notification further says that the other ITR forms will be available shortly.

On April 5, the Income Tax department had informed of the changes in ITR Forms that require tax payers to fill more information on their income than before for the assessment year 2018-19. Details like allowances that are not exempt, deductions claimed under section 16, the value of perquisites and profit in lieu of salary will have to be mentioned in a break-up format.

ITR Filing: All the New Changes in ITR Forms for 2018-19 You Need To Know

The changes in the form do not change the way you will file your taxes. The CBDT (Central Board of Direct Taxes) has said that it wanted to rationalize some fields in the forms, hence the changes.

All the seven ITR forms will have to be filed online except for some category of taxpayers.

Salaried Individuals Filing ITRs For FY 2017-18: Note These 8 Changes