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Monday, September 7, 2020

Income Tax Return for AY 2020-21: Who can file ITR-1 (Sahaj)?

The deadline for filing income tax returns or ITRs has been extended to 30th November 2020 as compared to normal deadline of July 31. The new ITR forms require a separate table to disclose tax saving investment made in Q1 2020 for availing them in FY 2019-20. ITR-1 form, also known as Sahaj, is mainly for salaried individuals earning up to 50 lakh annually. Only resident individuals can file ITR-1.

 

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