Skip to main content

All ITR Forms for 2017

All ITR forms are now available online

All income tax return (ITR) forms are available online at the income-tax department's e-filing website




Since 1 April, the income tax department has been uploading the various income tax return (ITR) forms for assessment year (AY) 2017-18. And now, all of them are available online at the income-tax department's e-filing website www.inometaxefiling.gov.in. If all your documents are in place, you can now e-file the tax returns. Also note that the number of ITR forms has been reduced to seven for this assessment year, compared to nine forms in the previous one. Now let's read more about e-filing taxes.


Almost everybody has to e-file the tax return
All income tax assessees can file their returns online, however there are exemption for very senior citizens (individual above 80 years, at any time during the previous year) or an individual or Hindu undivided family (HUF) having income of less than Rs5 lakh and who have not claimed any refund in the return of income, can also file their returns in physical forms. Rest all are compulsory required to e-file their ITRs.


Rationalised ITR Forms
In order to simplify the filing of taxes, the Central Board of Direct Taxes (CBDT) has made some amendments to the ITR forms. For the current assessment year, the numbers of forms have been reduced to seven, from nine, because in place of three ITR forms- ITR-2, ITR-2A and ITR-3- a single ITR-2 has been notified. Consequently, ITR-4 has been renumbered as ITR-3 and ITR-4S (Sugam) as ITR-4 (Sugam).


Further, some more changes have also been made in the design and format of the notified forms for the current assessment year.


For instance, a one-page simplified ITR Form-1 (Sahaj) can be used to file returns by individuals having income of up to Rs50 lakh a year and who are receiving income from salary and one house property or 'other income'. According to CBDT, "Various parts of ITR Form-1 (Sahaj) viz. parts relating to tax computation and deductions have been rationalized and simplified for easy compliance. This will reduce the compliance burden to a significant extent on the individual taxpayer. This initiative will benefit more than 2 crore taxpayers who will be eligible to file their return of income in this simplified form."


The ways of E-filing your tax return
There are no changes in the e-filing process of returns for the current year. There are two ways you can file the ITR. One is mostly online but partially offline, and the other is fully online. In the partially offline process, you need to download the relevant ITR form-which is in the form of an XML file-and save it to your computer. If you want, you can go offline while you fill it. After you fill and save the form, you need to submit it by going online again. To do this you will need a user ID and password to login to the income-tax filing website. If you don't already have a user ID, you can generate it on the same website using your Permanent Account Number (PAN).


After you log in, select the relevant form from the left panel and click 'Submit Return'. Browse to select the XML file that you had filled and saved on your computer, and 'Upload' it. After you upload the file, acknowledgement details would be displayed on your screen. In the fully online process, you don't have to download any form. You fill it online, and submit it online, after you login to the e-filing website with your user ID and password.


The due date
The due date for filing ITRs for AY2017-18 is 31 July 2017. However, in case you file it after 1 July, remember that you will have to quote your Aadhaar number or the enrolment ID of Aadhaar application form. This was mandated by the finance minister in the Finance Act, 2017, although this move has been challenged in the Supreme Court.



Invest Rs 1,50,000 and Save Tax up to Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds. Save Tax Get Rich

Top 10 Tax Saver Mutual Funds for 2017 - 2018

Best 10 ELSS Mutual Funds to Invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Tata India Tax Savings Fund 

3. Birla Sun Life Tax Relief 96

4. ICICI Prudential Long Term Equity Fund

5. Invesco India Tax Plan

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Sundaram Diversified Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact SaveTaxGetRich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

OR

Call us on 94 8300 8300





Popular posts from this blog

Understanding Your Cibil Credit Information Report

   WE ARE all familiar with the anxiety and uncertainty that we feel when applying for a loan. After all, it's the lender who decides whether we can own our dream home, our first car, or whether our children can pursue higher education. In a nutshell, a better life depends on the lender's decisions.    While other factors do play a part in the lender's decision, the Cibil Credit Information Report ( CIR ) plays a crucial role in a lender's decision to approve a loan application.    Previously, lenders would treat all loan seekers equally. Each applicant, if approved by the lender's internal credit policy, would be charged at the same interest rate for a particular loan size and purpose. The lenders would charge a higher interest rate to all the borrowers, in order to compensate for the possible default of a small portion of the loan disbursed. In other words, it's like a professor (the lender) punishing an entire class (borrowers) for the mischief played b...
Read more

Myths about Exchange Traded Funds (ETFs)

1) ETFs Are Similar to Individual Stocks: Like MFs, ETF consist of an underlying portfolio of securities that's designed to follow a specific index or investment strategy. Hence, they are as diversified as various mutual funds. 2) ETFs Only Invest in Equity: Since they are listed on the exchange, the general belief is that ETF only consists of equity asset class. Globally, ETFs are available across asset classes – equity, debt, commodities, real estate and so on. In fact, over the past couple of years, India has also seen the emergence of Gold ETFs. 3) All ETFs Are Index Funds: ETF started as a fund which used to track indices and hence they were branded as index funds that are listed. However, ETFs have progressed rapidly and are no longer associated only with passive index funds. Globally, we have seen the launch of actively-managed ETFs. In India, also we recently saw the emer gence of fundamentally-weighted ETFs on Nifty, which busts the myth that ETFs are index funds and can...
Read more

What are the factors affect the changes in Interest Rate of Fixed Deposits?

  What are the factors affect the changes in rate of Fixed Deposits? Fixed Deposits are now considered to be a very old fashioned method of saving, but still attract many investors since they have guaranteed returns at the end of the tenure of the investment at a decent interest rate. There are various factors that affect the rates of interest for a Fixed Deposit. Policies of the Reserve Bank of India   - The several norms and restrictions posed by the Reserve Bank of India , in order to gain optimum control over credit and inflow and outflow of fund throughout the country. The repo rate changes, cash reserve ration tends to change and these changes affect the banking products like Fixed Deposits, loans etc. Recession   - When unemployment in a country crosses the benchmark set Recession hits, and slowly the country faces an economic slow movement, affecting the purchasing power of the people in the country, forcing the Reserve Bank of India to release more funds in the financial marke...
Read more

REC Tax Free Bond Issue

Tax Saving Mutual Funds Online Current open Infra Bond Application form   Download REC Tax Free Bond Application Forms REC (Rural Electrification Corporation) is going to issue tax free bonds and the issue will open on March 6 2012 and will close on the 12th of March 2012 When you buy 80CCF infrastructure bonds, the amount you invest in those bonds get reduced from your taxable income but in these bonds that's not going to be the case. The interest on these bonds will be tax free and they are similar to the other tax free bonds like the HUDCO, NHAI and PFC issues. For the two of you interested in knowing this – these bonds are tax free under Section 10(15)(iv)(h) of the Income Tax Act. Now on to the issue itself and let's start with the high credit rating that the issue has got. The REC tax free bond issue has been given the highest rating by all issuers since the government owns the majority stake (66.8%) in REC, it has been consistently profit making,  this is a se...
Read more

Mutual Fund Review: ING Dividend Yield

  ING Dividend Yield's small assets enable the fund manager to churn in impressive returns… Strategy The aim of the fund is to invest in stocks which offer a high dividend yield. This fund deploys a value based strategy which aims to gain from investing in fundamentally strong and free cash flow generating businesses. The scheme focuses not only on growth but also on the cash generated by the business, which mostly leads to stable returns even in volatile markets. This fund has a low volatility because of its investment in high yielding stocks. The scheme tries to include stocks that yield dividend above the dividend yield of the Nifty and stocks with liquidity, which throws up a universe of 150 stocks.   Our View Launched in October 2005, this fund invests at least 65 per cent of its assets in high dividend yield stocks. The fund has consistently maintained a mix of stocks across varying market capitalisation, with a higher tilt to mid caps compared to small caps. Howev...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now