CBDT notifies new income tax return forms for AY 2021-22

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The Central Board of Direct Taxes (CBDT) has notified new income tax return forms (ITR forms) for the assessment year 2021-22, said an official release issued by the Ministry of Finance on April 1.

"Keeping in view the ongoing COVID-19 crisis and to facilitate the taxpayers, no significant change have been made to the ITR forms in comparison to the last year’s ITR forms," the CBDT said.

Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made, the statement added.

"ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by an individual having income up to Rs 50 lakh and who receives income from salary, one house property/other sources (interest etc.).

Similarly, Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs) having total income up to Rs 50 lakh and income from business and profession computed under the presumptive taxation provisions, the press release added.

Individuals and HUFs not having income from business or profession (and not eligible for filing Sahaj) can file ITR-2 while those having income from business or profession can file ITR Form 3, it further stated.

"Persons other than individual, HUF and companies i.e. partnership firm, LLP etc. can file ITR Form 5. Companies can file ITR Form 6. Trusts, political parties, charitable institutions etc. claiming exempt income under the Act can file ITR-7," the statement noted.

There is no change in the manner of filing of ITR forms as compared to last year, the CBDT said. The notified ITR forms are available on the website of e-gazette.

In January this year, when the deadline for filing ITR for financial year 2019-20 ended, the tax department had claimed that five percent higher returns were filed as compared to the previous assessment year.

The total returns for 2019-20 are 33.35 lakh higher than the previous year as total ITRs filed stood at 5.61 crore on the last date which was August 31, 2019, it had tweeted on January 10.