Quick Summary
The Income Tax Department has released JSON Schema ITR 1 and ITR 4 for AY 2023-24 (FY 2022-23)
ITR 1: For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.
- Document Schema (13KB)
- Date of first release of JSON Schema 11-Apr-2023
ITR 4: For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE and agricultural income upto Rs.5 thousand.
- Document Schema (23 KB)
- Date of first release of JSON Schema 11-Apr-2023
FAQ :
The Income Tax Department has released the JSON Schema for ITR 1 and ITR 4 for Assessment Year 2023-24 (Financial Year 2022-23).
ITR 1 is for resident individuals with a total income of up to £50 lakh. This includes income from salaries, one house property, other sources (like interest), and agricultural income up to £5,000.
ITR 4 is for resident individuals, HUFs, and firms (excluding LLPs) with a total income of up to £50 lakh. It's for those with income from business and profession computed under sections 44AD, 44ADA, or 44AE, and also allows for agricultural income up to £5,000.
The JSON Schemas for both ITR 1 and ITR 4 were first released on 11th April 2023.
The maximum total income for individuals filing under ITR 1 or ITR 4 is £50 lakh.
CAclubindia
