2021-22 [Assessment Year 2022-23]
09-04-2022 11:27:07
The Central Board of Direct Taxes (CBDT) has notified new income tax return forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR- 4, ITR-5, ITR-6, ITR-V and ITR- Ack, for the Financial Year 2021-22 [Assessment Year 2022-23], the ministry of finance said in a release on 1 April 2022.
Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made, CBDT further added.
Form ITR-1, also known as SAHAJ, and Form ITR-4, also known as SUGAM, are simpler forms that serve a large number of small and medium-sized taxpayers. An individual with an income of up to Rs.50 lakh from salary, one house property, or other sources, such as interest, can file a SAHAJ. Individuals, Hindu Undivided Families (HUFs), and firms (other than limited liability partnerships (LLPs)) with total income up to Rs.50 lakh and income from business and profession computed under the presumptive taxation provisions can also file SUGAM
