Sahaj IT Return Form : A Simplified One Page Form that Benefits 2 Crore Tax Payers


Sahaj IT Return Form: Central Board of Direct Taxes notified the 2 crore tax payers that a simplified ITR(Income Tax Return) form to reduce the compliance burden. These ITR forms will be for the assessment year 2017-18 and filed electronically from April 1, 2017. Instead of 20 columns of deductions in the old form, only four deductions claims in respect of Section 80C, 80D, 80G and 80TTA need to be filled.

SAHAJ (ITR 1) is filed by salaried employees and ITR 2 by individuals and HUFs whose income does not include income from business. The government has done away with form ITR 2A (used by individuals & HUFs not having income from business or profession and capital gains and by those who do not hold foreign assets). Sahaj makes quoting of 12-digit biometric identifier Aadhaar number mandatory along with Permanent Account Number (PAN).

Sahaj IT Return Form – Compressed ITR to Help Tax Payers:

“The Central Board of Direct Taxes has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj),” CBDT said in a statement. ITR 2 and ITR 3 have a Schedule AL requiring assesses to declare their assets and liabilities at the end of the fiscal. Only 6 crore out of 29 crore persons having PAN file income tax returns at present.

According to Indian Express, The e-filing facility for ITR-1 is enabled from April 1 and ITRs can be filed till the stipulated deadline of July 31. While the old ITR form too had column to quote Aadhaar, the government has through an amendment to the Income Tax Act this week made quoting it mandatory.

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