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TMI BlogCBDT notifies New Income Tax Return Forms for AY 2021-22X X X X Extracts X X X X X X X X Extracts X X X X ..... CBDT notifies New Income Tax Return Forms for AY 2021-22 - News and Press Release Dated:- 2-4-2021 - News - The Central Board of Direct Taxes has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 vide Notification no.21/2021 in G.S.R. 242(E) dated 31.03.2021. Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant chan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge have been made to the ITR Forms in comparison to the last year s ITR Forms. Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made. 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 upto ₹ 50 lakh and who receives ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 upto ₹ 50 lakh and income from business and profession computed under the presumptive taxation provisions. Individuals and HUFs not having income from business ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 . 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. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere is no change in the manner of filing of ITR Forms as compared to last year. The notified ITR Forms are available on http://egazette.nic.in/WriteReadData/2021/226336.pdf . - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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