New ITR Forms for AY 2021-22
The Central Board of Direct Tax (CBDT) has notified Income Tax Return Forms (ITR) for the assessment year 2021-22 vide notification no 21/2021 in G.S.R 242 (E) dated March 31, 2021. Keeping in view the ongoing crisis due to coronavirus pandemic and facilitate the taxpayers, no significant change have been made to the ITR forms in comparison to the last year’s ITR forms. Only the bare minimum changes necessitated due to amendments in the Income Tax Act, 1961 have been made.
ITR Form-1 (Sahaj) and ITR Form-4 (Sugam) are simpler forms that cater to a large number of small and medium tax payers. Sahaj can be filled by an individual having income upto Rs.50 lakh and who receives income from salary, one house property/ other sources (interest etc).
Similarly, Sugam can be filled by individuals, Hindu Undivided Families (HUF) and firms (other than Limited Liabilities Partnerships-LLP) having total income upto Rs.50 lakh and income form business and profession computed under the presumptive taxation provisions.
Individuals and HUFs not having income from business and profession (and not eligible for filling Sahaj) can file ITR-2 while those having income from business and profession can file ITR form-3. Persons other than individual, HUF and Companies i.e partnership firms, LLP etc. can file ITR form-5. Companies can file ITR form 6. Trusts, Political Parties, Charitable institutions etc cleaning exempt income under the Income Tax Act can file ITR-7.
There is no change in manner of filling of ITR forms as compared to last year. The notified ITR forms are available (download) on http://egazette.nic.in/WriteReadData/2021/226336.pdf