Central Board of Direct Taxes and notified the Form ―Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 for FY 2019-20 (AY 2020-21).
As per the rule, taxpayers shall be required to answer and disclose following additional information in income tax returns of FY 2019-20:
- Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year?
- Have you incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person?
- Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year?
- Whether, you have made any investment/ deposit/ payments between 01.04.2020 to 30.06.2020 for the purpose of claiming any deduction under Part B of Chapter VIA?
Tax Insight 