Check your passport, foreign travels, electric bill before filling ITR form
The income tax department now wants to keep a watch on your foreign travel spends and electric bill payments
Here are five things to know about changes in ITR forms from assessment year 2020-21
NEW DELHI : Before filing income tax returns (ITR) from the next financial year, you will need not only details of your income and investments but also other details related to passport, foreign trips and electricity bills as the income tax department has changed ITR forms from assessment year 2020-21. The income tax department issues seven forms from ITR-1 to ITR-7 for ITR filing each year. This time, well before the beginning of the new new financial year from April, the income tax department has released ITR 1 (Sahaj) and ITR 4 (Sugam) forms. Other forms are expected to be released soon.