Quick Summary
The Central Board of Direct Taxes notified the new Income Tax Return Forms(ITR 1 to ITR 7) for AY 2020-21 on the 30th of May 2020. The new ITR Forms gave various relaxations to the taxpayers- Passport Details are not mandatory to be given, ITR filing has been made easy for people with joint house ownership. However, the forms also aim to seek disclosures regarding investments made to claim the deduction, cash in a current deposit, expenditure on foreign travel, expenditure on the consumption of
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FAQ :
The ITR-4 form was made available on the Income Tax e-filing portal shortly after the new Income Tax Return Forms for AY 2020-21 were notified.
The new Income Tax Return Forms, including ITR-4, are for Assessment Year 2020-21.
Yes, the new ITR forms offer relaxations such as not requiring passport details and making filing easier for those with joint home ownership.
The forms aim to seek disclosures regarding investments made to claim deductions, cash in a current deposit, expenditure on foreign travel, and electricity consumption exceeding prescribed limits.
The ITR-4 form is available on the e-filing portal of the Income Tax Department.
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