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Thursday, April 4, 2019

ITR Forms for AY 2019-20/ FY 2018-19 Notified

ITR Forms for AY 2019-20/ FY 2018-19 Notified

CBDT has finally released the Income Tax Return Forms for Assessment Year 2019-20 or Financial Year 2018-19.

The forms are updated as per changes in Finance Act 2019.

The CBDT has notified 7 types of Income-tax return forms. These Forms are ITR-1 or Sahaj, ITR-2, ITR-3, ITR-4 or Sugam, ITR-5, ITR-6 and ITR-7. Eligibility creteria of these forms is given below :

ITR Person who is eligible to File

Form No.:ITR-1 SAHAJ

For individuals being a resident other than not ordinarily resident having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh

Form No.:ITR-2

For Individuals and HUFs not having income from profits and gains of business or profession

Form No.:ITR-3

For individuals and HUFs having income from profits and gains of business or profession

Form No.:ITR-4-Sugam

For Presumptive Income from Business & Profession

Form No.:ITR-5

For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

Form No.:ITR-6

For Companies other than companies claiming exemption under section 11

Form No.:ITR-7

For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)

Each return form is applicable according to the status of taxpayer and type of income he earns during the year.

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