Essential About Income Tax forms ITR- 1(SPONTANEOUS) IT CAN BE FILLED BY ONLY THOSE INDIAN CITIZENS WHOSE ANNUAL INCOME (COMBINING SALARY AND OTHER RESOURCES SUCH AS PROPERTY OR INTEREST) IS 50 LAKH OR LESS. FOR THE FINANCIAL YEAR 2017-2018 NRI CANT FILL THIS FORM. IN THIS INTUITIVE FORM,FULL INFORMATION ON THE SALARY HAS BEEN SOUGHT. IN THIS YOU WILL HAVE TO GIVE INFORMATION RELATED TO ALLOWANCE,BENEFIT APART FROM SALARY,THE COST OF THE FACILITY AND DEDUCTION INFORMATION UNDER SECTION 16. HOWEVER ALL THIS INFORMATION ARE GIVEN IN FORM 16,BUT NOW IT WILL ALSO BE GIVEN IN THE RETURN FORM. ON PAYMENT OF RENT MORE THAN 50 THOUSAND TDS FACILITY IS THERE. NOW TO GET THIS TDS A SPECIAL COLUMN IS GIVEN IN WHICH YOU CAN GIVE ITS NOTICE. IN THIS INFORMATION OF INCOME FROM PROPERTY LIKE RENT ,TAX GIVEN TO LOCAL AUTHORITY ,ANNUAL VALUE,INTEREST PAID ON BORROWED CAPITAL WILL BE GIVEN
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