Can I file ITR-1 for AY 2020-21 if I have made tax-free long term capital gains?
After much delay due to the disruptions caused by the COVID, Income tax returns (ITR) excel utilities of ITR-2 and ITR-3 have been uploaded on the Income Tax e-filing site. In addition to the Excel utility, the Java tool is also available on the site for ITR-2.
The utilities of ITR-1 (Sahaj) and ITR-4 (Sugam) were uploaded earlier, even with the due date of filing return of income date of filling has extended from July 31, 2020, to November 30, 2020, for the assessees whose income needn’t be audited.
ITR-1 or Sahaj is intended for resident people (other than Not Ordinarily Resident) having Income from Salaries, One House Property, Other Sources (Interest, etc.), and Agricultural Income up to Rs 5,000.
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Last Update : Aug 21, 2020 7:11 AM
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