CBDT notifies Income Tax Return Forms for the Assessment Year 2024-25 well in advance for the Assessment Year (A.Y.) 2024-25

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..... CBDT notifies Income Tax Return Forms for the Assessment Year 2024-25 well in advance for the Assessment Year (A.Y.) 2024-25 - News and Press Release Dated:- 2-2-2024 - News - The Central Board of Direct Taxes (CBDT) vide Notification No. 19 of 2024 dated 31.01.2024, has notified Income-tax Return Forms (ITR Form) - 2, 3 and 5 for the Assessment Year (A.Y.) 2024-25. Further, vide Notification .....

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..... No. 16 of 2024 dated 24.01.2024, ITR Form-6 has been notified for the A.Y. 2024-25. Earlier, ITR-1 and ITR-4 for the A.Y. 2024-25 were notified vide Notification No. 105 of 2023 dated 22.12.2023 . All ITR Forms 1 to 6 have since been notified and will come into effect from 1 st April, 2024. ITR-1 (SAHAJ) can be filed by resident Individuals having total income upto Rs. 50 lakh and having in .....

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..... come from Salaries, one house property and income from other sources. Individuals and HUFs not having income from business or profession [and not eligible for filing ITR Form-1 (Sahaj)] can file ITR-2, while those having income from business or profession can file ITR Form- 3. ITR-4 (SUGAM) is for resident individuals, HUFs and Firms (other than LLP) having total income upto Rs. 50 lakh and having .....

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..... income from business and profession computed under section 44AD , 44ADA or 44AE . Persons other than individual, HUF and companies i.e. partnership firm, LLP etc. can file ITR Form- 5. The companies other than those claiming exemption under section 11 can file ITR Form-6. Changes have been incorporated in the ITRs in order to facilitate the taxpayers and to improve ease of filing. Largely, .....

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..... the changes incorporated were necessitated due to amendments in the Income-tax Act, 1961 made vide Finance Act, 2023. The Notifications of the ITR Forms are available on the Department s website at the following link: www.incometaxindia.gov.in . - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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