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Download Income Tax Return Forms AY 2020-21 – ITR-1 Sahaj ITR-4 Sugam

January 6, 2020by Basavaraj Tonagatti

This time well in advance, CBDT notified the forms for ITR AY 2020-21. You can download Income Tax Return Forms AY 2020-21. As of now, CBDT notified the ITR-1 (Sahaj) and ITR-4 (Sugam).

The new ITR forms in PDF format are available. However, the excel utilities (or) Java Utilities for AY 2020-21 will soon be made available on E-filing website.

Before jumping to understanding the new forms, let us first understand the income tax slabs for FY 2019-20 or AY 2020-21 from the below image.

  • Latest Income Tax Slab Rates for FY 2019-20 (AY 2020-21)

Points to consider before filing ITR for AY 2020-21 (FY 2019-20)

# You have to consider the standard deduction of Rs 50,000 in lieu of travel, medical expense reimbursement, and other allowances for salaried employees and pensioners. (Earlier it was Rs.40,000).

# If your total income is less than Rs.5,00,000 you no need to pay any tax. Because in Budget 2019, the Government revised the Sec.87A. Refer the earlier post ” Revised Tax Rebate under Sec.87A after Budget 2019“.

Download Income Tax Return Forms AY 2020-21 – Which forms to use?

As of now, CBDT Notified the ITR-1 Sahaj and ITR-4.

ITR 1 (Sahaj) Form For AY 2020-21

Download Income Tax Return Forms AY 2020-21 - ITR1 Sahaj

This form can be used only for the income generated during FY 2019-20

You can use this form in case-

# Salary or Pension Income

# Earlier CBDT made it usable for those who have income from one house property (excluding cases where the loss is brought forward from previous years). However, it again rolled back to it’s earlier notification and allowed taxpayers.

# No business income / no Capital gains

# No asset in a foreign country or no income from a source outside India

# Agricultural  income which is less than Rs 5,000

# Income from other sources like FD/Shares/NSC etc.,

# No income from lottery or horse racing.TR Form-1 (Sahaj) can be filed by an individual who is resident other than not ordinarily resident, having income up to Rs 50 lakh and who is receiving income from salary, one house property / other income (interest, etc.).

You can’t use this form in case-

You can’t use this form in case-

# If you deposited more than Rs.1 crore in a bank account or have incurred Rs.2 lakh or Rs.1 lakh on foreign travel or electricity respectively

#If your total income for the assessment year 2018-19 exceeds Rs.50 lakh;

#  Income from more than one house property;

#  Income from winnings from lottery or income from Racehorses;

# Income taxable under section 115BBDA;

#  Income of nature referred to in section 115BBE;

#  Income under the head “Capital Gains”;

#  Agricultural income in excess of Rs.5,000;

# Income from Business or Profession;

# Loss under the head ‘Income from other sources’;

# Person claiming relief under section 90 and/or 91;

# Any resident having any asset (including financial interest in any entity) located outside India or signing authority in any account located outside India;

Download ITR-1 Sahaj for AY 2020-21 FY 2019-20

ITR 4 Form Sugam For AY 2020-21

This form can be used by individuals who have;

# For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession

# No Capital Gains

# Agricultural Income which is less than Rs 5k

# No asset in a foreign country or no income from a source outside India

# Income from one house property

# Income from other sources

You can’t use this form in case-

# Earlier CBDT made it usable for those who have income from one house property (excluding cases where the loss is brought forward from previous years). However, it again rolled back to it’s earlier notification and allowed taxpayers.

Download ITR-4 Sugam for AY 2020-21 FY 2019-20

As of now, CBDT notified ITR1 Sahaj and ITR-4. I will update this section as and when the CBDT notifies the other forms. Also, do remember that as the forms have been notified without the return filing utility, the taxpayer, who is required to file the return before the previous year ends, cannot do so until the return filing facility is activated on the e-filing portal.

Category: Tax Planning

About Basavaraj Tonagatti

Basavaraj Tonagatti is the man behind this blog. He is SEBI Registered Investment Adviser who is practicing Fee-Only Financial Planning Process and also an Independent Certified Financial Planner (CFP), engaged in blogging since 7 years. BasuNivesh blog is ranked as one among India's Top 10 Personal Finance Blog. He is not associated with any Financial product/service provider. The purpose of this blog is to "Spread personal finance awareness and make them to take informed financial decisions." Please note that the views given in this Blog/Comments Section/Forum are clarifications meant for reference and guidance of the readers to explore further on the topics/queries raised and take informed decisions. These should not be construed as investment advice or legal opinion."

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Reader Interactions

Comments

  1. Capt KL Saini

    August 26, 2020 at 4:43 PM

    ITR-1 for AY 2020-21 is not downloading. Kindly tell easy way to download the same.. Thank you.

    Reply
  2. DR. BIKAS BISWAS

    July 31, 2020 at 9:17 PM

    Sir,
    I have retired on 31/10/2019 from Govt. Service. I have drawn my Monthly Salary upto Oct. 2019 and pension for the rest of the months for the FY 2019-20. In addition I have drawn GPF, Gratuity, Leave Salary and Group Insurance.
    Now, 1) What are the inclusions in my Salary as defined in Sec. 17(1)
    2) What are the exemptions from Salary U/S 10
    3) Is GPF included in Salary or It is to be shown separately as EXEMPT INCOME in ITR1
    4) What will be my category…..Is it “Govt. Employee” or “Pensioner”?

    Reply
    • Basavaraj Tonagatti

      August 1, 2020 at 9:00 AM

      Dear Dr.Bikas,
      It is hard for me to guide the whole of your ITR process with a mere few lines of your sharing.

      Reply
  3. GATISH CHANDRA ACHARYA

    March 29, 2020 at 8:09 PM

    PLEASE FORWARD ITR 1

    Reply
    • Basavaraj Tonagatti

      March 29, 2020 at 10:28 PM

      Dear Gatish,
      Download from abvoe post.

      Reply
  4. nirmlesh

    March 9, 2020 at 10:48 PM

    I have gains from Mutual funds can i use ITR1

    Reply
    • Basavaraj Tonagatti

      March 10, 2020 at 7:22 AM

      Dear Nirmlesh,
      Please read above post. If you have capital gains, then you can’t use ITR1.

      Reply
  5. Shivani Kanakara

    March 3, 2020 at 11:25 AM

    When will the utility be made available for AY 2020-21?
    And can we file our return before 31st March, 2020?

    Reply
    • Basavaraj Tonagatti

      March 3, 2020 at 2:19 PM

      Dear Shivani,
      Post 31st March 2020.

      Reply
      • Devraj

        April 11, 2020 at 4:42 PM

        I donot see AY 2020-21 in the portal.incometaxindiaefiling.gov.in . Any idea why this is so?

        Reply
        • Basavaraj Tonagatti

          April 11, 2020 at 7:56 PM

          Dear Devraj,
          Wait for some time.

          Reply

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