Friday, May 9, 2014

ITR-1 (Sahaj) and ITR-4S (Sugam) for AY 2014-15

ITR-1 (Sahaj) and ITR-4S (Sugam) released by the Income tax department and published on the e-filing website for download.

Who can use ITR-1 for AY 2014-15?
Individuals having the income from Salary and Interest.

Who can user ITR-4 for AY 2014-15?
Individuals/HUF having the income from presumptive business

The AY 2014-15 ITR's are e-Utilities (Till AY 2013-14 - Excel Utilities)

How to use the forms:

These Forms are developed using the latest in JAVA technology and effort has been made to make it user friendly, simpler and faster preparation of tax returns. This utility can be run on operating systems like Windows 7.0 or above and latest Linux, where Java Runtime Environment Version 7 Update 6 (jre 1.7 is also known as jre version 7) or above is installed. 

The following are features available in the Form.
  1. New - On click of this button, a new copy of the form will be available. If you have already opened the form, you will be prompted to save the earlier copy.
  2. Open -This option is for importing the XML (successfully generated earlier) of a particular A.Y. Select the path and import the XML. You should check/validate the contents before finalizing upload/submission.
  3. Save - The XML will be stored in the path you have selected.
  4. Save Draft -The unfinished work can be saved as ".draft " extension in the path you have selected. Please note that you cannot submit this file without filling the complete details.
  5. Prefill This option can be used to auto-fill your Personal, Address and Tax details. You will be prompted to provide your User ID, Password and DOB/DOI to fetch the data. It is advisable to complete this activity before you start entering other data. Please check/validate the contents. Please make sure you're connected to the internet to avail this feature.
  6. Re-Calculate - On clicking this button, the data in the utility will be re-calculated. This is to provide with the utility based calculation/validation.
  7. Submit -Click this button to upload the XML in e-Filing portal. You'll be prompted to provide your e-Filing credentials, User ID, Password and DOB/DOI. Post submission, the success message and the acknowledgment number will be displayed. You will be able to download ITR-V. Please make sure you're connected to the internet to avail this feature. (if the return is submitted without a DSC) as well.
  8. Help - This option will let you know the shortkeys, instructions, settings and how to use this form.
  9. Previous/Next These will help you to navigate to the various tabs of the ITR form.

Short Cut Keys to use in e-Utility?

1. Alt+N : Opens new ITR
2. Alt+S : Saves the ITR in the user desired path
3. Alt+F4 : Closes the Utility
4. Alt+I : Imports the xml file
5. Alt+F : Pre-fills the ITR
6. Alt+C : Clears the validation errors
7. Alt+D : Hides/shows the validation window
8. Alt+G : Open the submit screen to submit the ITR
9. Alt+R : Recalculates the tax details as per the Utility

Required System Settings for e-Utility?

Following are the recomended settings to use the ITR Utility : 

Softwares: 
1. Java Runtime Environment Version 7 Update 6 (jre 1.7 is also known as jre version 7) or above 
2. Any Zip Software to unzip the utility 

Internet Connection: 
Minimum bandwidth of 256 kbps and above

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