Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial

Filling out Income Tax Return forms (Common stuff)

This post details instructions on how to fill in the ITR forms. The following sections are common across ALL ITR forms (Forms 1-4) relevant to individual taxpayers.

Note: I will, in another post, link to an excel file for download that you can use to fill in fields easily.

First, fill out personal information at the top of the form.

Filling out Income Tax Return forms (Common stuff)

In this section, what is important is your PAN (Permanent Account Number). If you don’t have a PAN, please apply for it now – you can apply online or read the FAQ.

If you use the excel sheet, note that you can do the following:

Filling out Income Tax Return forms (Common stuff)

Next, you must fill out the Filing Status
Filling out Income Tax Return forms (Common stuff)

Three things to note:
1) Assessing officers’ designation, ward and circle can be obtained online. Go to the Income Tax web site and choose About Us|Organisation and Functions|Field Offices _> your nearest field office. On the page displayed, choose Jurisdiction and browse into the section that applies to you.
2) The section you file returns will be one of the following codes:
11: Filed voluntarily before 31/7/2007 (applies to most of us)
12: Filed voluntarily after 31/7/2007 (must file before 31/03/08)
13, 14, 15: Filed in response to a notice from the IT dept. (See section 9 of instructions)
3) If you’re filing a correction to an earlier return you must enter the date and receipt number of the earlier return. Always keep your receipt number and this date handy so you can file corrections later if necessary.

In later posts I will explain how you must fill individual forms : ITR-1 and ITR-2. For ITR-3 and 4, the fields are common but you’ll need to use an accountant or a Tax Return Preparer since this involves calculation of business income and/or partnership income.

  • Anonymous says:

    >This is a question regarding ITR-4.

    On page 2, under Sources of funds(1c+2c+3) -> Long-term investments. What is “Government and other securities -Quoted” and “Government and other securities -Unquoted”

    I dont understand the meaning of this quoted & unquoted.

    It would be highly appreciable, if you help me understanding the meaning of these terms.

  • Deepak Shenoy says:

    >Anon: Securities that are traded in a financial market (like a wholesale or retail debt market) will have a quoted value. Those that are not traded will be “unquoted”.

    You may need to talk to a CA about which securities are quoted and which are not – or the person you purchased government securities from.

  • Dattaswarup says:

    I am a salaried person in higher tax bracket. I have to pay 30% tax on FD interest. In future,can i make Recurring deposit account and avoid some tax as i read in a news article that
    “Tax benefit on the interest earned on Recurring Deposit up to Rs 12000 Tax Deductible at source if the interest paid on deposit exceeds Rs 5000/-per customer, per year, per branch.”

    Does it mean upto 12K interest is tax free?

    Pls answer my query.

  • Deepak Shenoy says:

    >Dattaswarup: This 12,000 limit used to be there earlier under a section called 80L. THis is now no longer applicable, so you pay full tax on all interest received.

  • Praseeth says:

    >Thanks a lot for letting us know how to find the Ward/Circle. Actually i was trying to fill the ITR-1 form myself but couldn’t find how to fill the “Designation of Assessing Officer”. Thanks a bunch for this.:-)

  • Deepak says:

    >Thanks a lot for posting the link/procedure to find “Assessing officers’ designation” details.

  • mikesh says:

    >May i know the list of such securities Quoted as well as Unquoted??

  • Excellent beat ! I would like to apprentice even as you amend your site, how can i subscribe for a blog web site? The account aided me a appropriate deal. I have been tiny bit familiar of this your broadcast offered vibrant transparent idea