Guidelines for Filing of Personal Income Tax Returns If the Total Income exceeds the basic exemption limit

(i.e. Rs.1,10,000 for Men and Rs.1,45,000 for Women Assessee , the Ret!rn "ill need to be filed either in #orm ITR$1 or ITR$% as ma& be applicable' ITR$1 (T"o pa)e*' ITR$% (+ix pa)e* ' #or person "ho has onl& +alar& and interest income #or person "hose income incl!des +alar&, Income from ,o!se -ropert&, .apital /ains etc. but does not include business or professional income. (0ote' Govt. has clarified that a person who is required to use ITR- should not use ITR-!" a. #orm!la has been inserted at the appropriate places to facilitate the !ser to calc!late the total income and tax liabilit&. ,o"e1er, the form!la for comp!tin) tax liabilit& (at special rates in respect of capital )ains has not been pro1ided. The same ma& be done man!all& . 2ns!re that the form!lae contained in the cells mar3ed in p!rple colo!r are not dist!rbed. b. In 1ie" of the different basic exemption limits applicable in case of "omen assessee, "e ha1e enclosed separate soft cop& of Ret!rn #orms. There is an option )i1en to the assessee to s!bmit the ret!rn of income in an& of the follo"in) modes' 1. %. 6. -aper format 4 li3e in the earlier &ears. 2$form 4 5nline as per the proced!re and soft"are notified b& the /o1t. 2mplo&ees desiro!s of preferrin) this option ma& refer to "ebsite """.incometaxindia.)o1.in. Please note that in case return is filed electronicall# it is mandator# to quote email id. Thro!)h a 7Tax Ret!rn -reparer8 "ho "ill render the +er1ice of preparin) the Ret!rn for a fee not exceedin) Rs.%50. A list of appro1ed Tax Ret!rn preparers "ill be a1ailable on /o1t. "ebsite """.incometaxindia.)o1.in. $ther useful information 0o" there is no need to enclose an& doc!ment alon)"ith the Ret!rn of Income li3e +alar& certificate (#orm 19 , tax pa&ment challans or an& other annex!res. There is an additional re<!irement of f!rnishin) the information relatin) to certain specified transactions exceedin) specified limits li3e &earl& cash deposits, credit card pa&ments, p!rchase of M# =nits, bonds, debent!res, shares, R>I bonds and transactions in1ol1in) p!rchase ? sale of an& immo1able propert&. Refer item 0o @(ii of Instr!ctions formin) part of the Ret!rn #orm 1 and %. 2ns!re that &o! :!ote &o!r correct -A0 0!mber in the Ret!rn. It is mandator&. Ret!rn "ill not be accepted b& I.T. ;epartment if -A0 is either not stated or is incorrect. Aon) Term .apital /ains in respect of certain transactions "here +ec!rities Transaction Tax has been paid, is exempt from Income Tax. +hort Term .apital /ains in s!ch cases "ill be liable to be taxed B 10C pl!s applicable s!rchar)e and 2d!cation .ess.

#or M!mbai based emplo&ees residin) "ithin the territorial limits of /reater M!mbai ? 0a1i M!mbai, the address for filin) tax ret!rns contin!es to be +alar& Ran)e, Income Tax 5ffice, -rat&a3sha3ar >ha1an, >andra D!rla .omplex. In case of others it is +alar& Ran)e, Income Tax 5ffice, Thane or Dal&an as the case ma& be. The abo1e "ill help &o! in the preparation and s!bmission of &o!r tax ret!rn, smoothl&.

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