April 6, 2018 7:27 AM

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CBDT notifies new Income Tax Return, ITR forms for the assessment year 2018-19

<div>Central Board of Direct Taxes, CBDT today notified new Income Tax Return, ITR forms for the assessment year 2018-19. The new form mandated salaried class assessees to provide their salary breakup and businessmen their GST number and turnover.&nbsp;</div>''<div><br />''</div>''<div>The policy-making body of the tax department said, some fields have been rationalised in the latest forms and that there is no change in the manner of filing the ITRs as compared to last year. In a statement, the CBDT said, all the seven ITRs are to be filed electronically except for some category of taxpayers.&nbsp;</div>''<div></div>''<div>This time, the ITR-1 form seeks an assessees salary details in separate fields and in a breakup format in lieu of salary and deductions claimed under section 16. The ITR-2 has also been rationalised for individuals and HUFs, Hindu Undivided Families, having income under any head other than business or profession who can file either ITR-3 or ITR-4 in presumptive income cases.&nbsp;</div>''<div><br />''</div>''<div>Under the ITR-4, assessees who have presumptive income from business and profession will have to furnish their GST registration number and its turnover. The requirement of furnishing details of cash deposit in the form for the Assessment Year 2017-18 has been done away with this time.</div>''<div></div>''<div>The new ITRs have been uploaded on the official website of the department–www.incometaxindia.gov.in. The last date for filing the ITR is July the 31st.</div>''<div><br />''</div>

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