ITR Filing Forms for AY 2020-21 Issued

NEW INCOME TAX RETURN (ITR) FILING FORMS FOR A.Y. 2020-21 (F.Y. 2019-20) NOTIFIED

CBDT Vide Gazette notification dated 29th May, 2020 has introduced new ITR filing forms for the A.Y. 2020-21. 

The notification was issued by Ministry of Finance, Revenue department in exercise of the power conferred by Section 139 read with Section 295 of the Income Tax Act, 1961. 

The ITR forms shall come into force with effect from the date of publication in the Official Gazette (29th May 2020). 

In this notification following forms are notified:-

1. Sahaj (ITR-1) For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.

[Not for an individual who is either Director in a company or has invested in unlisted equity shares].

2. Form ITR-2 For Individuals and HUFs not having income from profits and gains of business or profession.

3. Form ITR-3 For individuals and HUFs having income from profits and gains of business or

profession.

4. Form Sugam (ITR-4) For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE]

[Not for an individual who is either Director in a company or has invested in unlisted equity shares]

5. Form ITR-5 For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

6. Form ITR-6 For Companies other than companies claiming exemption under section 11

7. Form ITR-7 For persons including companies required to furnish return under sections 139(4A) [Trust, charitable or religious purposes or in part only for such purposes] or 139(4B) [political party] or 139(4C)[Various associations etc] [ or 139(4D)[university, college or other institution etc] only

8. Form ITR-V INDIAN INCOME TAX RETURN VERIFICATION or ACKNOWLEDGEMENT 

Where the data of the Return of Income in Form ITR-1 (SAHAJ), ITR-2, ITR-3, ITR-4(SUGAM), ITR-5, ITR-6, ITR-7 filed

These forms will be available on income tax ITR filing website https://www.incometaxindiaefiling.gov.in/home to file their ITR by assesses soon.

for more detail & view notification visit this link http://egazette.nic.in/WriteReadData/2020/219667.pdf

 Note:- some detail mentioned with sections of income tax is for reference only, for detail go to respective section.