BackCBDT notifies ITR forms for assessment year 2022-23
Sahaj can be filed by an individual having income of up to ₹50 lakh and who receives income from salary, one house property/other sources (interest, etc). ITR-4 can be filed by individuals, HUFs and firms with total income up to ₹50 lakh and having income from business and profession
PremiumThe Central Board of Direct Taxes (CBDT) on Friday notified five income tax return (ITR) forms for assessment year 2022-23, requiring more disclosures, including details of investment in unincorporated entities, and income from overseas retirement benefit accounts from taxpayers.
The ITR Form 1-Sahaj and ITR Form 4-Sugam are forms that cater to a large number of small and medium taxpayers, the CBDT said. The notification gives enough time to assessees to file timely returns, it said. “It is one of those unusual occurrences when the CBDT has notified all the ITR forms (except the form for charitable trust) on the first day of the relevant year (AY 2022-23). The just notified ITR forms have additional particulars of disclosures to provide more information at the time of filing of return of income itself," said Om Rajpurohit, director, AMRG & Associates.
The move was significant as the CBDT has had to extend the due date for filing returns in the past few years, not only because of the pandemic, but also because of late announcement of forms and technical issues in the income tax portal, he said.
Sahaj can be filed by an individual with an income of up to ₹50 lakh and who receives income from salary, one house property or other sources of income. Sugam can be filed by individuals, HUFs, and firms with total income up to ₹50 lakh and having income from business and profession.
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