All 7 ITR forms released for E-filing: IT Dept

The Income Tax Department on Saturday launched and activated all the seven ITR forms for e-filing by taxpayers, after more than a month of them being notified.

The Central Board of Direct Taxes had notified the new Income Tax Return forms for the assessment year 2018-19 on April 5.

“All ITRS for AY 2018-19 are now available for e-filing,” the department said in a statement.

The tax department has launched the ITR forms gradually since April 5 as the taxpayers have been looking forward to filing their returns before the stipulated deadline of July 31.

All seven ITRS are to be filed electronically on the official web portal of the department -https://www.incometaxindiaefiling.gov.in - except for some category of taxpayers, the CBDT had said.

The new ITR forms mandate the salaried class assesses to provide their salary breakup, and businessmen their GST number and turnover.

The ITR-1 called ‘Sahaj’ is mostly used by the salaried class of taxpayers with income up to Rs 50 lakh from salary, one house property only and additional income such as interest earned from fixed deposits and recurring deposits.

Three crore taxpayers used this form during the last financial year. Similarly, the ITR-2 form is used by individuals and Undivided Hindu families (HUFS), who have income from any sources except income from profits and gains of business or profession, including NRIS.

Individuals and HUFS having income under the head business or profession can file either ITR-3 or ITR-4 in presumptive income cases.

The rest of the forms are for different category of taxpayers.

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