New ITR Forms

New disclosures in the new ITR Forms 1 to 7

The Income-tax (IT) department on Sunday said in a tweet that CBDT notified ITR forms 1 to 7 for AY 2020-21. These forms will include income and investment details for FY 2019-20 through an order dated May 29. Some of the new disclosures asked in the new ITR forms 1 to 7 are: 1.House ownership: Individual taxpayers who are joint owners of house property cannot file ITR 1 or ITR 4. 2. Passport: Taxpayer needs […]