The Income Tax Return (ITR) Forms 1 and 4 are anticipated to be released in the First week of April 2024.
CA Pratibha Goyal | Mar 18, 2024 |
Income Tax Department releases JSON Schema For ITR-1 and ITR-4 for AY 2024-25
The Income Tax Department has released the JSON Schema For ITR-1 and ITR-4 Forms for the Financial Year 2023-24 (Assessment Year 2024-25).
The Schema was released on 18-Mar-2024. The Income Tax Return (ITR) Forms 1 and 4 are anticipated to be released in the First week of April 2024.
Form ITR-1 or Sahaj is relevant for individuals being a resident (other than those not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest, etc.), and agricultural income upto Rs.5 thousand.
For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE and agricultural income upto Rs.5 thousand Form ITR-4 or Sahaj is to be filed.
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