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Seven Facts That Nobody Told You About Chapter 112 Test Form 112a | Chapter 112 Test Form 12a

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By PTI

NEW DELHI: A brittle assets tax anatomy for salaried individuals will be alien from April 1, accomplishing abroad with some columns to abridge the filing of returns.      

Individuals with bacon and absorption assets will accept to ample beneath columns as some of these for claiming assets deductions accept been clubbed in ITR1 anatomy alleged ‘Sahaj’.      

In the anatomy for Assessment Year 2017-18, deductions claimed beneath altered sections of Chapter VIA accept been removed and alone mostly acclimated ones accept been included.      

“Columns that will abide accommodate those for claiming deductions beneath Area 80C, mediclaim (80D). Those individuals who appetite to appearance deductions beneath added active can do so by selecting an option,” an official told PTI.      

Currently, the ITR 1/Sahaj has 18 altered columns for claiming deductions beneath Area 80 of the Assets Tax Act.    

Under area 80C, a answer of Rs 1.5 lakh can be claimed from absolute assets for investments in LIC, PPF and claim of apartment loan.      

Section 80D provides for tax answer from the absolute taxable assets for the acquittal of medical allowance premium. This answer is over and aloft the answer beneath Area 80C.      

“The forms would be notified by this ages end as we appetite assessees to alpha filing allotment from April onwards,” the official added.      

The move is aimed

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