ITR Form AY 2021-22: The Central Board of Direct Taxes (CBDT) has released a new ITR form for the assessment year 2021-22 (AY22). In the wake of the Corona crisis, no significant changes have been made to the format or filling of the new form. Let’s know from where to download the new ITR form and which form will have to be filled by which person.
The CBDT has not made any significant changes in the notified new form, whereas last time it was changed a lot. The board has made the same changes this time, which were very important. Actually, these changes have to be made due to the amendment in Section-1961 of the Income Tax Act. Not only this, but there has also been no change in the way of filling the ITR form.
Official Notification for ITR Form AY 2021-22
Download the new form from here, Employed persons use this form
The new ITR form issued by CBDT is available at the link http://egazette.nic.in/WriteReadData/2021/226336.pdf. Income Tax Return Form-1 and Form 4 are the easiest. They are used by small and medium taxpayers. Taxpayers with an income up to Rs 50 lakh per annum, are filing ITR using Sahaj ie Form-1. Also, only taxpayers who get income from salary, a house or interest, also file ITR with a simple form. At the same time, for filing ITR, Sugam i.e. Form-4 is used by Hindu Undivided Family (HUF) and firms with an annual income of up to Rs 50 lakh. Also, people who earn income from business or profession also fill ITR through this form.
Individual taxpayers or Hindu undivided families who do not earn income from business or profession can file income tax returns through ITR-2 and ITR-3. Individual taxpayers, Hindu undivided families and companies, as well as partnership firms, can fill the LLP ITR-5 form. Companies can fill ITR Form-6. Trusts, political parties and charitable institutions claiming exemption under the Income Tax Act can file ITR through ITR Form-7.