Income Tax Return forms for Assessment Year 2024-25 notified. Details here
Upstox
2 min read • Updated: February 3, 2024, 10:32 AM
Summary
The Notifications of the ITR Forms are available on the Department’s website at the at the www.incometaxindia.gov.in.
Mumbai, Feb 3 - The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Form) 2, 3 and 5 for the Assessment Year 2024-25. Earlier, ITR-1 and ITR-4 for 2024-25 were notified on 22.12.2023. All ITR Forms 1 to 6 will come into effect from April 1, 2024.
ITR-1 (SAHAJ) can be filed by resident Individuals having total income up to Rs 50 lakh and having income from Salaries, one house property and income from other sources.
ITR-2: Individuals and HUFs not having income from business or profession [and not eligible for filing ITR Form-1 (Sahaj)] can file ITR-2.
ITR Form- 3: Those having income from business or profession can file ITR Form- 3.
ITR-4: The SUGAM is for resident individuals, HUFs and Firms (other than LLP) having total income up to Rs 50 lakh and having income from business and profession computed under section 44AD, 44ADA or 44AE.
ITR Form- 5: Persons other than individuals, HUF and companies i.e. partnership firm, LLP etc. can file ITR Form- 5.
ITR Form-6: The companies other than those claiming exemption under section 11 can file ITR Form-6.
The CBDT, in its notification, said, "changes have been incorporated in the ITRs in order to facilitate the taxpayers and to improve ease of filing."