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Dipen Mittal, CA, Taxmann.com, says, “Taxpayers filing their acknowledgment application ITR Form-1 (Sahaj) can acquisition all the advice in their Form-16. Form-16 provides all the advice about their bacon capacity which includes basic, allowances, allowances etc.”

While Form16 provides you all the capacity apropos your bacon income, here’s how you charge ample the appropriate capacity to book your acknowledgment correctly. Incorrect capacity could advance to ysis from assets tax department.

Also Read: How to book ITR-1: Step-by-step adviser

Income from bacon Beneath this arch in ITR Form-1, you are appropriate to access the afterward capacity accompanying to salary: Bacon (excluding all allowances, allowances and accumulation in lieu of salary), allowances that are not absolved from tax, bulk of perquisites, and accumulation in lieu of salary. You will additionally accept to accommodate capacity of the deductions you accept

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