On March 18, 2024, the CBDT made the ITR-1 and ITR-4 offline forms (JSON utility) for FY 2023–24 (AY 2024–25) available for taxpayers. Beginning on April 1, 2024, income tax returns for FY 2023–24 (AY 2024–25) will be filed using these ITR forms. Pre-filled income tax return data can be imported or downloaded into the offline utility using the JSON utility as a file format. According to the income tax department e-filing website, it is also used to generate prepared ITR in the authorised offline utility. The deadline for filing income tax returns for AY 2023-24 for taxpayers and individuals not subject to audit is July 31, 2024. Filing ITR: Two Methods on the Income Tax E-Filing PortalTaxpayers have the choice to file their income tax returns fully online or in part offline through the income tax department. Filing Income Tax Return with Official JSON UtilityUsing the semi-offline method, taxpayers download the utility form in JSON format from the new 2.0 income tax e-filing website. Taxpayers manually enter income and pertinent information for the particular financial year after obtaining the particular form. As an alternative, users can import data straight into the JSON tool. The schema is posted to the income tax 2.0 e-filing website once all the information has been entered. The IT department has made the JSON utility available for download for AY 2024-25. You can Download Utilities Here: https://www.incometax.gov.in/iec/foportal/downloads/income-tax-returns Filing Income Tax Returns Online Through 2.0 Tax Filing PortalWhen using the fully online method, taxpayers can use the 'File income tax return' function to access their accounts on the ITR e-filing portal. Income-related information is usually pre-filled, but before completing an online ITR form, taxpayers must confirm all of the information. ITR forms for AY 2024–25 are not yet available online on the official website, according to the CBDT. Recall that the income tax department provided the forms for the income tax return prior to the end of FY 2023–24, which ended on March 31, 2024 (notification of the forms was sent between December 2023 and February 2024). The income tax department is required to make both online and offline forms available on the e-filing website after notification. The ITR forms are usually notified by the income tax department in April, following the end of the fiscal year. Read Also: IT Department Offline JSON Utility for Filing ITR-1 & ITR 4 Eligibility for Filing ITR-1 and ITR-4Taxpayers must choose the right ITR form according to their income sources. The following taxpayer types are eligible to use the ITR 1 form:
Likewise, inhabitants with total income up to Rs 50 lakh, including individuals, HUFs, and businesses (but not LLPs), are subject to ITR 4. It includes agricultural revenue up to Rs 5,000 as well as business and professional income calculated under sections 44AD, 44ADA, or 44AE. If a salaried individual sells shares, funds, or other assets and makes capital gains, they have to file their ITR using Form ITR-2. The income tax agency has not yet made available the offline and online forms for further ITR forms.
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AuthorI am Amit Gupta. I like to write posts about chartered accountants' topic. |