New ITR-1 (Sahaj) in Excel and ITR-5 with Java Utility released by IT for Asstt. Year 2014-15.

Now, it is a time to file Annual Income Tax Return for Asstt. Year 2014-15 by e-filing or paper return. If taxpayee may delay to file Income Tax Return, may face the consequences arising on behalf of them as per Income Tax Law binding for Asstt. Year 2014-15.

Income Tax Department has started the Annual Income Tax Return by e-filing process for the assessment year 2014-15. In this regard Income Tax Department has releasing the two Income Tax Return Utilities (java based & Excel) i.e. ITR-1 (Sahaj) in Excel Utility and New ITR-5 in Java. Further assessee can prepare return offline and upload return on filing portal.

For Individuals having Income from Salary/Pension and Family Pension, Income from Interest, Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses)]

This form CANNOT BE USED by an individual if income for Assessment 2014-15 being -

ITR 1 (Sahaj) :

Who can use this form ?

This Return Form is to be used by an Individual whose Total Income for the assessment year 2014-15 includes :-

• Income from Salary/Pension; or
• Income from One House Property (excluding cases where loss is brought forward from previous years); or
• Income from Other Sources (excluding winning from Lottery and Income from Race Horses)

Who cannot use this form ?

This Return Form should not be used by an Individual whose Total Income for the assessment year 2014-15 includes:-

• Income from more than one House Property; or
• Income from winning from Lottery or income from winning from Race Horses; or
• Income under the head "Capital Gains", e.g., short term capital gains or long term capital gains from the sale of house, plot, shares etc.; or
• Income from agriculture/exempt income in excess of Rs. 5,000; or
• Income from Business or Profession ;or
• Loss under the head 'Income from other sources'; or
• Person claiming relief of foreign tax paid under section 90 and/or 91;or
• Any resident having an asset (including financial interest in any entity) located outside India or signing authority in any account located outside India.

New ITR-1 (Sahaj) in Excel Formate (Click Here)

DOWNLOAD ITR-1 (SAHAJ) & ITR-5 BY IT

Forms	Description	Utility
ITR-1 (Sugam)	For Individuals having Income from Salary & Interest	Download Excel
ITR 5	For firms, AOPs,BOIs and LLP	Download Java