In india new income tax forms are out for new assessment year 2022-23. Find out which one you should use

 

The Central Board of Direct Taxes (CBDT) has notified the new ITR forms—ITR-1 to ITR-6—for Assessment Year 2022-23 to file return of income for Financial Year 2021-22.

ITR 1 Form or SAHAJ

ITR 1 Form or SAHAJ is for salaried individuals having total income of up to Rs 50 lakh for the financial year 2021-22. Remember, salary also includes pension income. “There is one addition in the ITR Form 1 that requires you to disclose the source of your pensions like Central government, State government or any other, but it will not make any difference in the computation of the taxable income,”

You can also file a return in ITR 1 if you earn income from other sources such as interest from bank deposits and one house property.

Comments

  1. Tax Marketing Entrepreneur NewsJune 7, 2022 at 10:31 AM

    What does the form ITR 2 represents?

    ReplyDelete
  2. VIGNESH HJune 9, 2022 at 7:27 PM

    The long-term capital gains from equity-oriented mutual funds need to be reported in 'Schedule 112A'. If you have short-term capital gains, that needs to be reported in Schedule CG.
    The pre-filling and filing of ITR-2 service is available to registered users on the e-Filing portal. This service enables individual taxpayers to file ITR-2 online through the e-Filing portal. This user manual covers filing of ITR-2 through online mode.

    ReplyDelete

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