Points to consider while filing ITR-1 for the AY 2018-19
Changes in ITR-1
The most popular one pager return is continued by the CBDT this year also. But there are certain changes regarding eligibility to file this return as well contents of this return which are as under.
1. This year (AY 2018-19 FY 2017-18), only the individual who is ‘resident and ordinary resident’ can file this return, so three categories of residential status are removed from the content of this return.
2. Resident Individual who has the income to be apportioned in accordance with provisions of Section 5A (governed by Portuguese Civil Code) is no more eligible to file this return. Therefore in schedule-TDS of this ITR, column no. 7 is removed this year.
3. Individual who want to carry forward the loss under the head income from house property is not eligible to file this return.
4. Income under the head salary and house property are to be shown in detail as under instead of writing only net figure of income/loss under the head. (Same change in ITR-4 Sugam also)
5. Amount of late fees under newly introduced section 234F which is payable in case of late filing of ITR.
CA PINKI KEDIA
FCA, DISA, LLB
