Category Archives: Salary Income Tax


Income tax department has issued the Income tax return for FY 2016-17 i.e. for AY 2017-18 well on time and same can be downloaded for filling ITR for period 1st April 2016 to 31st March 2017. For Financial Year 2016-17 department has merged the different ITR and numbering of ITR has been changed and after… Read More »

Important Due Dates for Filing Income Tax Returns for F.Y. 2016-17 and/or A.Y. 2017-18

Due Date for Filling Income Tax Return for year ending 31st March 2017 i.e. FY 2016-17 or AY 2017-18 is 31st July 2017 without any fine or penalty  for Individual/HUF/Firm/LLP not required to be audited under the Income Tax Act and for person under Audit due date of filling Income Tax Return & Tax Audit… Read More »

Download ITR-1 SAHAJ Form for AY 2016-17 for Salaried Employees in PDF

ITR-1 Form: SAHAJ—Income Tax Return Form for Salaried Persons The SAHAJ ITR-1 form is an essential Income Tax Return form for Indian citizens filing their tax returns with the Income Tax Department. The Income Tax Act, 1961, and the Income Tax Rules, 1962, obligates citizens to file returns with the Income Tax Department at the end of every financial year. These returns should be filed… Read More »

Income Tax and Valuation of Rent Free House (Accommodation) provided by employer to employee under Section 17(2)(i) (ii) & Rule 3(1) of Income Tax Act, 1961

Income Tax and Valuation of Rent Free House (Accommodation) provided by employer to employee under Section 17(2)(i) (ii) & Rule 3(1) of Income Tax Act, 1961 For purpose of valuation of the perquisite of unfurnished accommodation, all employees are divided into two categories: (i) Central Government & State Government employees; and (ii) Others. For employees of… Read More »

E-filing is unsafe: Wrong, E-Filing is Safer than Physical Filing of Income Tax Return & Compulsory for Income Above Rs 5 Lakhs

E-filing of Income Tax Return is unsafe is myth  and E-Filing of ITR is now compulsory for Income above Rs 5 Lakhs and refund for e-filed return is issued faster than those filed physically.  Also E-Filing that is paper less filing is much more accurate, safer and faster and chances of error is very less… Read More »

Income Tax on Value of Medical Reimbursement, Gift, Vouchers or Token Given to Employee under Income Tax Act 1961: Section 17(2) (viii) & Rule 3(7) (iv)

Income Tax on Medical Reimbursement, Any Gift, Voucher or Token Given to Employee by Employer under section 17(2) (viii) & Rule 3(7) (iv) Income Tax Act, 1961 As Per Income Tax Act 1961 “Value of any gift, voucher or token Value of any gift, voucher or token” includes: i) The value of any gift, or voucher,… Read More »