Quick Summary
Central Board of Direct Taxes (CBDT) has issued Notification No. 105/2023 dated December 22, 2023, introducing the Income Tax Return (ITR) Forms ITR-1 (SAHAJ) and ITR-4 (SUGAM) for the Assessment Year (A.Y.) 2024-25. The notification specifies that these forms will come into effect from April 1, 2024, ushering in a new era of tax compliance and reporting. Purpose of Forms ITR-1 (SAHAJ):This form is simpler and typically used by individuals with income from salary,one house property,
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The CBDT has notified the Income Tax Return (ITR) Forms ITR-1 (SAHAJ) and ITR-4 (SUGAM) for the Assessment Year 2024-25.
These forms will come into effect from April 1, 2024.
ITR-1 is generally used by individuals with income from salary, one house property, other sources (like interest), and agricultural income up to Rs. 5,000.
ITR-4 is applicable to individuals, HUFs, and firms (excluding LLPs) with a total income up to Rs. 50 lakh and income from business and profession computed under sections 44AD, 44ADA, or 44AE.
The purpose of these forms is to facilitate tax compliance and reporting for the upcoming assessment year.
CAclubindia
