InvestorQ : What are the new provisions for the filing of ITR-1(Sahaj) and ITR-4(Sugam)?
Anjana Aiyar made post

What are the new provisions for the filing of ITR-1(Sahaj) and ITR-4(Sugam)?

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Deepa Salunkhe answered.
12 months ago
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Under the new provisions for filing ITR forms, the Central Board of Direct Taxes (CBDT) has notified that now even the high spenders will now be able to file an income tax return (ITR) for AY2020-21 (FY 2019-20) through the ITR-1 (Sahaj) form.
High spenders are those people who have spent Rs. 2 lakh or more on their foreign travel, or have incurred expenses equal to or more than Rs. 1,00,000 on electricity or has deposited Rs. 1 crore or more in the current account.

ITR-1 is to be filed by the individuals having income from salary, house property, and other sources, for income up to Rs. 50 Lakh. ITR-4 (Sugam) is for the individuals, HUFs or firms (other than LLP) deriving business income.

Earlier it was not allowed for the Joint owners of a property to file the return under ITR-1. After the forms were notified the taxpayers showed concerns that the changes will cause hardship for them. Now, they will have to fill detailed form instead of simple ITR-1 and ITR-4.

This will create unnecessary delays and filing and chaos for the taxpayers. Keeping these concerns in mind, CBDT in its latest notification has rolled out the earlier provision and notified that, an individual holding single house property jointly can file the return through ITR-1 and ITR-4, as applicable.
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