{"id":308890,"date":"2020-01-06T10:15:32","date_gmt":"2020-01-06T04:45:32","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=308890"},"modified":"2020-01-06T10:24:48","modified_gmt":"2020-01-06T04:54:48","slug":"power-bill-over-rs-100000-or-owning-house-jointly-cant-use-itr-1-form","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/power-bill-over-rs-100000-or-owning-house-jointly-cant-use-itr-1-form\/","title":{"rendered":"Power bill over Rs 100,000 or owning house jointly? Can&#8217;t use ITR-1 form"},"content":{"rendered":"<p>The Income Tax Department on Sunday notified two income-tax returns for assessment year 2020-21 three months in advance, bringing more individuals into the mandatory return filing net. <\/p>\n<p>The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. <\/p>\n<p>ITR 1-Sahaj is for individuals having an annual income of up to Rs 5 million from salaries, a house, interest income, family pension income, etc. The form will require passport details. <\/p>\n<p>ITR 4-Sugam is for individuals who have an annual income of up to Rs 5 million, but have a house, deposited more than Rs 1 crore in a bank account or incurred Rs 200,000 on foreign travel or Rs 100,000 on electricity, said Naveen Wadhwa, deputy general manager, Taxmann.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Income Tax Department on Sunday notified two income-tax returns for assessment year 2020-21 three months in advance, bringing more individuals into the mandatory return filing net. The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity. ITR 1-Sahaj is for individuals having an annual income of up to Rs 5 million from salaries, a house, interest income, family pension income, etc. The form will require passport details. ITR 4-Sugam is for individuals who have an annual income [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,232],"tags":[],"class_list":["post-308890","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-power-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=308890"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/308890\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=308890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=308890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=308890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}