The Income Tax department, though its official e-filing portal has informed the taxpayers that the excel utilities of ITR 1 and ITR 4 for AY 2023-24 are available for filing.
“Excel utilities of ITR 1 and ITR 4 for AY 2023-24 are available for filing,” the e-filing portal said.
ITR 1 is for individuals being a resident (other than 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.
ITR 4 is 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.
Excel utility of ITR is the document which acts as a proof stating that the assessee has paid all the due income tax. Income Tax Return contains information about the annual income of the assessee. It also includes details of the computation of tax based on the annual income and the amount of tax that assessee has paid.
Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates
