TDS1: Details of Tax Deducted at Source from SALARY The Bank Account details, Verification and TRP details (if any) are to be provided hereĭetails of Advance Tax and Self Assessment Tax PaymentsīSR code, Date of Deposit, Chalan number, Tax Paid Name, Address, Date of Birth, PAN, contact details, etc.Įmployer Category, Tax status, Residential status, Return filed under the section, etc.Ĭomputation of tax liability on total income Earning income from salary, house property, capital gain, other sources, and under the head “Profits or gains of business or profession” and not eligible to opt for Presumptive Taxation Scheme.The ITR 3 form can be filed by the person who is: Or, if the taxpayer has incurred electricity expense of more than INR 1 lac.If the taxpayer has incurred foreign travel expense of more than INR 2 lacs.If the taxpayer has deposited more than INR 1 Cr in a current account.The high-value transactions can be either of the following: As per this new provision, if a taxpayer has entered into high-value transactions, it is mandatory to file the ITR even if the total income does not exceed the basic exemption limit. However, Budget 2019 inserted the seventh proviso to Section 139(1).
Up to FY 2018-19 (AY 2019-20), it was not mandatory to file Income Tax Return if the total income was less than the basic exemption limit.
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