CBDT has notified the income tax return formats for AY 2019-20.
The Income-tax (Second Amendment) Rules, 2019 have been issued notifying the new formats of ITRs for AY 2019-20
By Notification No. 32/2019, many changes have been made in various ITRs. Notable changes are as under:
|
Directorship in companies required Additional information on Residential Status Details of holding of Unlisted equity shares Manufacturing Account to be given for business or profession Information on GST turnover / gross receipts incorporated in ITR 3 / ITR 6 apart from ITR-4 Details of start up to be given in ITR – 6 |
The applicability of various ITRS is as under:
| ITR | Applicability |
| ITR-1 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] |
| ITR-2 | For Individuals and HUFs not having income from profits and gains of business or profession |
| ITR-3 | For individuals and HUFs having income from profits and gains of business or Profession |
| ITR-4 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] |
| ITR-5 | For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7] |
| ITR-6 | For Companies other than companies claiming exemption under section 11 |
| ITR-7 | For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) |
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