Income Tax Easy Filing

➡️ CBDT has introduced new *ITR Forms for the AY 2020-21* (FY 19-20)

Key changes in ITR forms for the Assessment Year 2020-2021 are as below:

✍️ House ownership: Individual taxpayers who are joint owners of house property can NOT file ITR 1 or ITR 4.

✍️ Passport: One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms as and when they are notified.

✍️ Cash deposit: For those filing ITR 4-Sugam, it has been made compulsory to declare the amount deposited as cash in a bank account, if such amount exceeds Rs 1 crore during the FY.

✍️ Foreign travel: If you have spent more than Rs 2 lakh on travelling abroad during the FY, you need to disclose the actual amount spent.

✍️ Electricity consumption: If your electricity bills have been more than Rs. 1 lakh in aggregate during the FY, you need to disclose the actual amount.

✍️ Investment details: Details of investment qualifying for deduction under chapter VIA with bifurcation of details of investment made during the period from April 1, 2020 to June 30, 2020.

Govt likely to be released the Tax Return Forms by 10th June. Also, that Due date has been extended to 31st August 2015.
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To file your returns, upload your Form 16 at www.incometaxeasyfiling.com

Collection ! Revenue ! Namo...
CBDT finally managed to mop up Rs 6.95 lakh crore revenue against revised target of Rs 7.05 lakh crore last fiscal

Dear All,
When team is there, you dont need to worry ! We will make it simple and hastle free for you :-)

Cheers !

Filing I-T returns becomes tougher New forms seek detailed break-up of capital gains, foreign assets, beneficiaries, foreign travel and expenses incurred