INSUBCONTINENT EXCLUSIVE:
Changes in income tax return form are applicable for filing income tax for assessment year 2019-20.The Income Tax Department has made
certain changes to the income tax return forms (ITR Forms)
The changes in income tax return form are applicable for filing income tax for assessment year 2019-20 (financial year 2018-19)
According to tax experts, some sections in the forms have been rationalised and reporting requirements increased
Individuals and businesses are required to file their income tax returns for the income earned in financial year 2018-19 using these forms
(: You Need To Furnish These Additional Details In New Income Tax Forms)This time the ITR forms have been changed with two major objectives
- to incorporate the changes made by the Finance Act, 2018 and to seek additional disclosures, Naveen Wadhwa of Taxmann told
tax disputes or which are prone to tax avoidance, he added.ITR-1 can be filed by an Individual only who is ordinarily resident in India
To Check Your Income Tax Refund Status Here's A Step-By-Step GuideFor Assessment Year 2019-20, every taxpayer is required to file the
annual income below Rs 5 lakh in the previous year to file the return in physical form has been withdrawn
filing of return of income and he has to use ITR 2 or ITR 3, as the case may be
Further, if an individual has been director in a company at any during the previous year, he has to provide name of the company, PAN card,
Revenue Collection, Boosts Taxpayer BaseThe new ITR forms require the representative assessee to provide the status under which return is
For example, if the guardian is filing a return in respect of income of a minor, he/she has to specify his/her capacity as guardian
Further, from Assessment Year 2019-20, a representative assessee will be able to file return in Form ITR-4.Get the latest election news,
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