ITR Forms have been enabled online. But along with this, there is an important news that some changes have also been made in the ITR forms for this financial year, which have come into effect with the new financial year.
Income Tax: Important information for taxpayers filing income tax returns across the country. From April 1, FY2023-24 (AY2024-25) ITR Forms have been enabled online on the efiling portal of the Income Tax Department (eportal.incometax.gov.in). This means that now taxpayers can file their tax returns online. But along with this, there is an important news that some changes have also been made in the ITR forms for this financial year, which have come into effect with the new financial year.
What changed for taxpayers this time?
Some changes have been made in the ITR Forms for taxpayers for AY2024-25, apart from this some changes have also been implemented, such as-
1. New Tax Regime is now the default regime for taxpayers. If you want to file tax return in Old Tax Regime, then you will have to select it separately.
2. Apart from this, now taxpayers will have to give details of all the bank accounts of the last financial year, along with the type of account will also have to be mentioned.
What changes have been made in ITR Forms?
Taxpayers filing ITR-1 will have to switch their tax regime. Whereas in ITR-4, taxpayers will have to fill Form 10-IEA to leave the new tax regime. With this, a new column has been added in both the forms to claim deduction under 80CCH. Another column ‘Receipts in Cash’ has been added in ITR-4, which will have increased turnover limit.
Additionally, ITR forms for AY 2024–25 sought separate details for legal entity identifier details, audit report acknowledgment number, unique document identification number details, cash receipt disclosures and disclosure of prizes won from online gaming. Has been.
When is the last date for filing ITR? (ITR Filing Last Date 2024)
Let us tell you that for taxpayers filing ITR-2 and ITR-3, the last date for filing Income Tax Return is July 31, 2024. At the same time, taxpayers filing ITR-3 form have to file returns by October 31, 2024. This form has to be filled by those whose income comes from business or who come under income tax audit.
