How to fill ITR-1 form details
A Guide on how to file ITR-1 form details
Welcome back to our blog series on How to fill ITR-1 form details. This is the second half of the blog where we will cover Parts D&E of ITR-1 along with schedules.
- Part D – Computation of tax payable
- Part E – Other Information
- Schedule-IT: IT Details of advance tax and self-assessment tax payments
- Schedule-TDS: TDS details of TDS/TCS
- Verification
TO read the first half, visit – How to fill ITR-1 form details
Part D – Computation of tax payable
- D1: Tax payable on total income – Gross tax payable on income computed from Part A, Part B, and Part C.
- D2: Rebate u/s 87A – In both the tax regimes, if the Net Taxable income is less than the specified amount then the entire tax calculated will be rebated (Tax amount will be Zero). For the FY 2022-23, the limit is Rs 5 Lakh in both the tax regimes.
- D3: Tax after rebate – Amount derived after reducing rebate from tax payable (D1-D2)
- D4: Health and education Cess @ 4% on D3 – An additional tax calculated on tax payable @ 4%
- D5: Total tax and Cess – D3+D4 – Total Income Tax payable
- D6: Relief u/s 89 (1) – Relief claimed on salary arrear and related payments
- D7: Interest u/s 234A – Interest payable on delayed return filing
- D8: Interest u/s 234B – Interest payable on deferred tax payment
- D9: Interest u/s 234C – Interest payable on delayed advance tax payment
- D10: Fees u/s 234F – Late fee payable for late return filing
- D11: Total tax, Fee and Interest (D5+D7+D8+D9+D10-D6) – Final tax payable including late fee and interest
- D12: Total taxes paid – The tax which has already been paid in terms of advance tax, TDS / TCS and Self-assessment Tax
- D13: Amount payable (D11-D12) (if D11>D12) – Tax amount payable after reducing the tax which is already paid
D14: Refund (D12-D11) (if D12>D11) – If tax paid is greater than tax payable then the refund can be claimed
Part E – Other Information
- Provide all the bank account details held under the particular PAN
- Select any one account for refund purpose (if applicable)
Schedule-IT: IT Details of advance tax and self-assessment tax payments
Challan details of any Advance tax and Self-assessment tax paid by self.
Schedule-TDS: TDS details of TDS/TCS
Verification
- Self-declaration for the declared information by the assessee
- If the return is filed by a Tax return preparer (TRP) then provide the details of TRP.
This brings us to the end of our blog series on How to fill ITR-1 form details. Please share your thoughts in the comments section below.
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