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April 3, 2021

ITR 1 and ITR4S Forms available for Filing Income Tax Returns now for FY 2020-21

by facelesscompliance in Income Tax

ITR 1 and ITR4S Forms available for Filing Income Tax Returns now for FY 2020-21

The Income Tax Department has released copy of all Income Tax Returns forms for AY 2021-22 FY 2020-21 on 1 April 2021

On 2nd April 2021, Income Tax Department has released utilities for ITR1 and ITR4S. Taxpayers who wish to file returns can file now for Financial Year 2020-21. For last FY 2019-20 there was option to file with Download either excel or Java or JSON utility. Now its only available in JSON utility

ITR 1:For individuals being a resident (other than not ordinarily resident) having total income up to Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income up to Rs.5 thousand (Not for an individual who is either Director in a company or has invested in unlisted equity shares or in cases where TDS has been deducted u/s 194N or if income-tax is deferred on ESOP

ITR 4: For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares or if income-tax is deferred on ESOP))

Instruction for use of offline utilities of ITR1 and ITR4S FY 2020-21 AY 2021-22

  1. Select the Assessment Year
  2. Download either excel or Java or JSON utility. The utility by default will get downloaded in your system ‘download’ folder in a compressed mode (ZIP file)
  3. Extract (un-compress) the zip file containing the utilities. The folder will be extracted in the same location where the compressed utility was downloaded. Open the utility and start filling.
  4. JSON Utilities:  OS – Windows 7 or later are supported, Processor – Intel Pentium 4 processor or later that’s SSE2 capable or AMD K10 or above core architecture, RAM – 1.5GB of RAM or more, HDD – 500MB or more of free space

You need to download the utility software from E filing website which looks like

Once you download it gives option to Please select download or import option to have your pre-filled data to proceed further. On click of this option, the prefilled data already saved by you on your system in .json format can be imported to prefill the information in the income tax return

The return filing process will be more complex for individual taxpayers as you require latest system and also knowledge of IT

Incase you are salaried and want to file Tax Returns you can click here

Incase you are business and want to file Tax Returns you can click here

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