Income Tax Return (ITR) filing online for Assessment Year 2023-24: Taxpayers can now file returns for AY 2023-24 through Income Tax Return (ITR) forms ITR-1 and ITR-4 on the e-filing portal in online mode with prefilled data.

“Income-tax Returns Form ITR 1 and ITR 4 are enabled at the portal in Online mode with prefilled data,” the Income Tax Department said on Saturday (May 21).

Read more Discover: Advisory for Timely Filing of GST Returns

Who is eligible for ITR-1?

The ITR-1 FORM for tax filing is for individuals who are residents (other than not ordinarily resident) with a total income of up to Rs 50 lakh. The income should be from salaries, one house property, other sources (interest etc.), and agricultural income up to Rs 5000.

Who is eligible for ITR-4?

The ITR-4 form for tax filing is for individuals, HUFs and Firms (other than LLP), who are residents with income up to Rs 50 lakh. Such income should be from business and profession, which is computed under sections 44AD, 44ADA or 44AE and agricultural income up to Rs 5000.

Read more Discover: Income tax return: How to file Revised Income Tax Return

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