CBDT notifies New ITR Forms for AY 2019-2020

CBDT vide notification No. 32/2019 dated 1st April 2019 amended the Income Tax Rules 1962 and added certain clauses to Rule 12 and released Income Tax Return Form Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V as applicable for return filing of Financial Year 2018-19 / Assessment Year 2019-20.

Following ITR forms for AY 2019-20 were notified:

ITR-1 SAHAJ:
For individuals being a resident (other than not ordinarily resident) having total income up to Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest, etc.), and agricultural income up to Rs.5 thousand]
[Not for an individual who is either Director in a company or has invested in unlisted equity shares]

ITR-2:
For Individuals and HUFs not having income from profits and gains of business or profession

ITR-3:
For individuals and HUFs having income from profits and gains of business or Profession

ITR-4 SUGAM:
For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs.50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE]
[Not for an individual who is either Director in a company or has invested in unlisted equity shares]

ITR-5:
For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7]

ITR-6:
For Companies other than companies claiming exemption under section 11

ITR-7:
For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D)

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