InvestorQ : I heard the tax department has changed income tax return (ITR) documents. What are these changes?
Samita Patil made post

I heard the tax department has changed income tax return (ITR) documents. What are these changes?

Answer
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seema Upadhyaya answered.
1 year ago


The Central Board of Direct Taxes (CBDT) notified new income tax return (ITR) forms for the last financial year 2018-19. These new forms ask for more information from the tax payer vis-à-vis the previous year.

According to media reports, in the new ITR forms, those filing ITR-3 and ITR-6 (companies) will have to disclose information regarding turnover/gross receipts reported for Goods and Services Tax (GST). Last year, this was applicable only for those assessees filing ITR-4.

A few other changes include:

- For landlords: In order to avail TDS relief, landlords will have to quote the PAN card of the tenant. They will also have to list the period of stay of the tenant. Please note, this will apply to individuals who earn from rent and file ITR-2.

- Those getting money in the form of donation will have to now give details of the name of donors, their address and PAN.

- Taxpayers having an agricultural income need to file ITR-2 with details of the land, the name of the district when he owns the land and the PIN.

- The tax department has stopped investors and company directors from filing ITR with Sahaj and Sugam forms.

- In ITR-6, taxpayers will have to share details of money in foreign accounts, equities and bonds.