ICCK

New ITR form wants more information
Writer	Admin
Every year, the tax department makes changes in the ITR form. This year is no different. This time the number of details on your income and investment asked by the tax authorities has increased considerably. With the new financial year comes a new income tax return (ITR) form . The income tax (I-T) department has said that the new ITR-1 and ITR-4 form for assessment year 2019-20 is available for e-filing on the website. Every year, the tax department makes changes in the ITR form. This year is no different. This time the number of details on your income and investment asked by the tax authorities has increased considerably. Let’s take a look at what has changed for salaried individuals. The change If you are a salaried individual, you will have to provide more details in the ITR form for the assessment year 2019-20. “ITR forms are changed for every financial year. The changes are in line with the Finance Act. This year, a lot of disclosures have been incorporated for individual tax payers,” said Anupam Jain, partner-taxation, Nangia Advisors(Andersen Global). It is not just the salary break up but couple of other changes that may require a lot of collation of data. Read More:https://www.hindustantimes.com/business-news/new-itr-form-wants-more-information/story-ntScxehD3vAER1kQvhl8hO.html https://www.hindustantimes.com/business-news/new-itr-form-wants-more-information/story-ntScxehD3vAER1kQvhl8hO.html

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Every year, the tax department makes changes in the ITR form. This year is no different. This time the number of details on your income and investment asked by the tax authorities has increased considerably.