Income Tax return Forms for Financial Year 2019-2020 notified

Income Tax return Forms for Financial Year 2019-2020 notified Please note that MINISTRY OF FINANCE has notified, Income Tax return Forms for Financial Year 2019-2020 or Assessment Year 2020-2021 notified. Form ITR-1 or Sahaj: [For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand] [Not for an individual who is either Director in a company or has invested in unlisted equity shares] Form ITR-2: [For Individuals and HUFs not having income from profits and gains of business or profession] Form ITR-3: [For individuals and HUFs having income from profits and gains of business or profession] Form ITR-4 or Sugam: [For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE] [Not for an individual who is either Director in a company or has invested in unlisted equity shares]

Changes in ITR 4-Sugam for A.Y. 2020-21

Form ITR-5: [For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7] Form ITR-6: [For Companies other than companies claiming exemption under section 11] Form ITR-7: [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only]