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Regarding the income tax returns in the financial year 2019-20, consider the following statements:
1. For FY20, there is a 9.8% decrease in ITR-1 offline filings and a 4.5 per cent decrease in ITR-1 online filings.
2. A resident individual with an income of up to Rs 50 lakh who is not a Hindu Undivided Family (HUF) member may file ITR-1 Sahaj.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Regarding the income tax returns in the financial year 2019-20, consid...
The latest government data shows a 6.6 per cent contraction in the number of income tax returns (ITRs) filed by individuals earning up to Rs 50 lakh in financial year 2019-20.
  • The latest data on ITRs showed a 9.8 per cent contraction in filings of ITR-1 offline and 4.5 per cent contraction in filings of ITR-1 online for FY20.
  • ITR-1 Sahaj can be filed by a resident individual, who is not included in the Hindu Undivided Family (HUF), having an income of up to Rs 50 lakh.
  • Total income includes income from salary or pension, income from one house property, income from other sources such as interest from a bank account (excluding winnings from lottery and income from racehorses, income taxable under section 115BBDA, or income of nature referred to in section 115BBE) and where agricultural income is up to Rs 5,000.
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Regarding the income tax returns in the financial year 2019-20, consider the following statements:1. For FY20, there is a 9.8% decrease in ITR-1 offline filings and a 4.5 per cent decrease in ITR-1 online filings.2. A resident individual with an income of up to Rs 50 lakh who is not a Hindu Undivided Family (HUF) member may file ITR-1 Sahaj.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Regarding the income tax returns in the financial year 2019-20, consider the following statements:1. For FY20, there is a 9.8% decrease in ITR-1 offline filings and a 4.5 per cent decrease in ITR-1 online filings.2. A resident individual with an income of up to Rs 50 lakh who is not a Hindu Undivided Family (HUF) member may file ITR-1 Sahaj.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2025 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Regarding the income tax returns in the financial year 2019-20, consider the following statements:1. For FY20, there is a 9.8% decrease in ITR-1 offline filings and a 4.5 per cent decrease in ITR-1 online filings.2. A resident individual with an income of up to Rs 50 lakh who is not a Hindu Undivided Family (HUF) member may file ITR-1 Sahaj.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Regarding the income tax returns in the financial year 2019-20, consider the following statements:1. For FY20, there is a 9.8% decrease in ITR-1 offline filings and a 4.5 per cent decrease in ITR-1 online filings.2. A resident individual with an income of up to Rs 50 lakh who is not a Hindu Undivided Family (HUF) member may file ITR-1 Sahaj.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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