ITR filing FY 2020-21: Minor changes in ITR forms, know how it affects ITR-1 Sahaj

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New Delhi: This year, tax filers, filing ITR FY 2020-21 can choose the New Tax Regime which has caused minor changes in all the ITR forms except ITR form 7.

Whether or not a tax filer is opting for the new tax regime must be clearly mentioned. The simple declaration is for filing ITR-1 (Sahaj) while others will have to file a separate form 10IE or 10IF.

You must keep these 9 Checklist of documents or information for filing ITR-1 SAHAJ

1. General Information

PAN

Aadhaar card number

2. Salary/Pension: Form 16 from Employer(s)

3. Income from house property

Rent receipt

Housing loan account statement for deduction of interest
 

4. Other sources

Bank Statement/passbook for interest on saving account and on fixed deposits

 

5. Claim of deduction under chapter VI-A

Your contribution to PF/NPS

Your Children’s school tuition fees

Life insurance premium reciept

Stamp duty and registration charges

Principal repayment on your home loan

Equity Linked Saving Scheme/Mutual funds investments

Reciept with details of donations eligible for 80G

The aggregate amount of deduction admissible u/s 80C, 80CCC AND 80CCD(1) and shall be restricted to maximum limit of Rs 1.5 lakh.

 

6. Fill up Schedule Dl if you have made any investment/deposit/payments between April 1, 2020 to July 31, 3030 for the purpose of claiming any deduction under Part B of Chapter VIA

 

7. Tax Payment Details

Verify the tax payment details as available in your form 26AS.

 

8. TDS Details

Verify the TAN details and the amount of credit available in your form 16 (For salary), 16A (non Salary) and 16C (Rent)

PAN/Aadhaar of Tenant

 

9. Other information

Exempt income like agricultural income, dividend (only for reporting purpose)

Details of all active bank accounts held in India (Minimum one account should be selected for refund credit)

Form 10E in case relief u/s 89 is claimed

 

Also, from the assessment year 2021-22, the Income Tax department is doing away with Excel & Java version of ITR utilities and is introducing single JSON Utility. For AY 2021-22, the ITR 1 to ITR 4 can be filled using single JSON Utility while mport of Prefill file is mandatory in utility. User can now download and fill the offline utility for ITR 1 & 4 (AY 2021-22).

 

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