28 Apr 2023, 07:55
The Indian Income Tax Department has released offline utilities for ITR Forms 1 and 4 that can be used for filing income tax returns related to the financial year 2022-23 (AY 2023-24). The online forms are expected to be released soon. ITR-1 is applicable to individuals with income from salaries or pension, one house property, income under other sources, and agricultural income below INR 5,000. ITR-4 is for individuals, HUFs, and firms with income from presumptive business or profession, among others, not exceeding INR 50,00,000. IT returns can be filed by downloading the utility form from the official e-filing portal.