Income Tax Department has released new Income Tax Return Forms for AY 2019-2020 and these form required more details about the income as compared to previous years to reduce the tax evading Â
Below are some major changes have been introduced in ITR Forms for 2019-20.
ITR-1 (Sahaj) | Applicable for:Â
Changes in the new form
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ITR- 2 | Applicable for: Individuals and HUFs not having income from profits and gains of business or profession.  Changes in the new form:
Schedule E1: Details of exempt of income Persons who are claiming Exemption of Agriculture Income and there Agriculture Income Exceeds Rs. 5,00,000 now need to give additional information. |
Person above 80 can file paper returns.
| ITR-3 | Applicable for: Individuals and HUFs having income from profits and gains of business or profession. Â Changes in the form:
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ITR-4 (Sugam) | Applicable for: Individuals, HUFs and firms (other than LLP) having a total income of up to Rs 50 lakh and having presumptive income from business and profession. Â Change in the new form:
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| ITR-5 | Applicable for: Persons other than-
Changes in the new form:
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| ITR-6 | Applicable for: Companies other than those claiming exemption under Section 11 of the Income Tax Act. Changes in the new form:
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| Schedule HP: Income from House Property | Furnish TAN of Tenant where tax is deducted under section 194-IÂ |
| Schedule 80G: Deductions | Bifurcation of the donations made in cash and otherwise |
| Schedule FA in ITR form- 5/6/7 | Complete disclosure on foreign assets |
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