Quickly start filing tax returns as ITR-1 and ITR-4 form for FY18-19 are now available for download.

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You can start filing an income tax return for FY18-19 as ITR-1 and ITR-4 forms are available for download from the income tax e-filing website. Positively mention Aadhar number in ITR forms without which it will not process the tax returns.

Form ITR-1 is meant for resident and salaried individuals having a total income of up to Rs 50 lakh while ITR-4 is meant for businessmen and individual professionals having a total income of up to Rs50 lakh. HUFs and firms other than LLP having a total income up to Rs 50 lakh can also use ITR-1 and ITR-4 forms for filing ITR. However, the director in a company or an individual invested in unlisted equity shares cannot file ITR-1and ITR-4 forms. This rationalisation in forms is meant to hold back shell companies and check the routing of Black Money as stated by the IT department. Directors in both listed and unlisted companies will have to file their tax returns in ITR-2 where it is compulsory for them to disclose details like DIN, PAN, and equity holding along with names of the companies. As stated by PTI report there is no change in ITR-1 form but some sections in ITR-2,3,5,6,7 has changed. July 31 is the last day for filling ITR who are not required to get their accounts audited. Avoid a penalty for the delay and get early tax returns by filing ITR as soon as possible. However, in 2017-2018 the IT department added 1.07 crore, new taxpayers, while the number of dropped filers came down to 25.22 lakh as compared to 6.87 crores ITR and 5.48 crore ITR filed during FY2017-2018 and FY2016-2017, respectively.