The income tax (I-T) department has enabled the online forms for ITR-1 and 4 with pre-filled data for the assessment year 2023-24. The software/utilities for preparing other ITRs/forms will be enabled shortly and information regarding the same will be made available to taxpayers on the e-filing portal, the department said in a tweet.

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This comes days after the department released the Excel utility of income tax return (ITR) forms 1 and 4.

Online forms different from Excel utilities

The online forms are different from the Excel utility, as in the latter the taxpayer was required to download the form, fill it and then upload the same on the e-filing website. The online form comes with pre-filled data, incorporating information from sources such as Form-16, salary details, interest income from savings accounts, and fixed deposit interest earnings.

Excel utilities, on the other hand, are tools that taxpayers can use to enter their income and other details required for filing their ITRs.

ITR filing and last date

In February this year, the Central Board of Direct Taxes (CBDT) notified the ITR forms. These forms can be used to file income tax returns (ITR) for FY 2022-23 (AY 2023-24).

The last date for salaried individuals and taxpayers whose accounts are not required to be audited is July 31, 2023 (unless the date is extended by the government).

ITR forms eligibility

ITR-1 (SAHAJ) can be used by an individual whose total income includes income from salary/pension, income from one house property (excluding cases where loss is brought forward from previous years); or income from other sources (interest etc.), and agricultural income up to Rs 5,000.

While ITR-2 is filed by people having income from residential property and having income above Rs 50 lakh, ITR-3 is filed by professionals. ITR-4, also known as Sugam, is available for Individuals, HUFs, and firms (other than LLP) being a resident having total income up to Rs 50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE under Income Tax Act. LLP or limited liability partnership is a partnership in which some or all partners have limited liabilities.

ITR-5 and ITR-6 are filed by LLPs and businesses.

The modification in ITR forms

As per the modified norms, individuals on whom search and seizure operations have been carried out by tax officials can now file revised returns under section 153 C on the basis of self-assessment of their undisclosed wealth in ITR-1.

CBDT has also made certain changes in the ITR-1 form with regard to disclosure under Section 139 (1), which is filed voluntarily by persons having annual taxable income of less than Rs 2.5 lakh. These individuals will not be required to intimate in their ITR forms even if their fixed deposits exceed Rs 1 crore.

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