Monday, August 22, 2016

Income Tax Return Form 1

Taxation in India is an important source of revenue generation for the government and is done in many different ways. Sales tax, service tax, entertainment tax, tax at source, professional tax and many others are different tax structures levied on purchases made and services or privileges availed by the citizens of India. Income tax is a primary source of taxation that takes into account taxation of income from salaried or self employed individuals or entities. Income tax in India can be filed using any of the applicable four Income Tax Return Forms from the Income Tax Department of India. Out of those four, ITR Form 1, ITR-1 or simply known Sahaj, is the Income Tax Return Form 1

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