Change in Income Tax Return Form – AY 2018-19
Change in Income Tax Return Form – AY 2018-19
Introduction:
- The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19
- There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically
- All these ITR Forms are to be filed electronically.
- However, where the return is furnished in ITR Form-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file the return in paper form:
(i)an Individual of the age of 80 years or more at any time during the previous year; or
(ii)an Individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the┬а Return of Income.
┬ЧThe changes are more disclosure-oriented in all the forms.
┬ЧAll forms are now available to file electronically.
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Forms тАУ Applicability
┬Ч ITR 1 тАУ Sahaj тАУ Resident Individuals having income from Salaries, one house property, other sources and having total income up to Rs.50┬а lakhs.
┬Ч ITR 2- For Individuals and HUFs not having income from profits and gains of business or profession.
┬Ч ITR 3- For individuals and HUFs having income from profits and┬а gains of business or profession
┬Ч ITR -4 Sugam тАУ For presumptive income from business and profession
┬Ч ITR-┬а 5┬а –┬а [For┬а persons┬а other┬а than,-┬а (i)┬а individual,┬а (ii)┬а HUF,┬а (iii) company and (iv) person filing Form ITR-7
┬ЧITR 6 – For Companies other than companies claiming exemption┬а under section 11
┬ЧITR 7 – For persons including companies required to furnish return┬а under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or┬а 139(4F)
