Team Blitz India
NEW DELHI: Taxpayers will have to furnish details about receipt of cash and all their bank accounts in the country, as per the latest Income Tax Return(ITR) notified by the Central Board of Direct Taxes for assessment year 2024-25.
ITR 1, or Sahaj, can be filed by a resident individual having income of up to Rs 50 lakh and who receives income from salary, one house property, other sources (interest), and agricultural income of up to Rs 5,000.
Taxpayers will have to give details of all bank accounts in India operational in the previous financial year.
They will also have to provide details of the type of bank account.
The updated return forms also have a special section for deduction for the Agniveers, or youngsters serving in the armed forces under the Agnipath scheme, under Section 80CCH.
