CBDT notifies New ITR Forms for AY 2022-23 (ITR 1 Sahaj, 2, 3, 4 Sugam, 5, 6, 7)

CBDT has notified the new ITR Forms applicable for AY 2022-23 (Forms ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 and ITR-7), without making any significant changes therein as compared to last year. Subsequently, the functionality/ utility for E-filing of ITR-1 Sahaj, ITR-2, ITR-4 Sugam and ITR-5 for AY 2022-23 has been enabled (offline & online both), as per E-filing Portal update dt. 14/06//2022. Also CBDT has released different sets of ‘Validation Rules’ for e-filing of ITR Forms in respect of AY 2022-23.

CBDT notifies New ITR Forms for AY 2023-24

ITR-1 Sahaj: For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs. 5000. Not for an individual who is either Director in a company or has invested in unlisted equity shares or in cases where TDS has been deducted u/s 194N or if income-tax is deferred on ESOP.

ITR-2: For Individuals and HUFs not having income from profits and gains of business or profession.

ITR-3: For individuals and HUFs having income from profits and gains of business or profession.

ITR-4 Sugam: For Individuals, HUFs and Firms (other than LLP) being a resident having total income upto Rs. 50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE. Not for an individual who is either Director in a company or has invested in unlisted equity shares or if income-tax is deferred on ESOP or has agricultural income more than Rs. 5000.

ITR-5: For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7.

ITR-6: For Companies other than companies claiming exemption under section 11.

ITR-7: For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only.

CBDT Income Tax Notification 21/2022 dt. 30/03/2021: New ITR Forms applicable for FY 2021-22/ AY 2022-23 notified (ITR 1 Sahaj, 2, 3, 4 Sugam, 5, 6)

G.S.R 231(E).- In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax Rules, 1962, namely:-

1. Short title and commencement.-

(1) These rules may be called the Income-tax (fourth Amendment) Rules, 2022.

(2) They shall come into force with effect from the 1st day of April, 2022.

2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 12,–

(a) in sub-rule (1), in the opening portion, for the figure “2021”, the figure “2022” shall be substituted;

(b) in sub-rule (5), for the figure “2020”, the figure “2021” shall be substituted.

3. In the principal rules, in Appendix-II, for Forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR4, ITR-5, ITR-6, ITR-V and ITR- Ack, the following Forms shall, respectively, be substituted, namely:- (contd.. please refer Notification 21/2022)

CBDT Income Tax Notification 23/2022 dt. 01/04/2021: New ITR Forms 7 applicable for FY 2021-22/ AY 2022-23 notified

G.S.R. 252(E).- In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax Rules, 1962, namely:-

1. Short title and commencement.-

(1) These rules may be called the Income-tax (5th Amendment) Rules, 2022.

(2) They shall come into force with effect from the 1st day of April, 2022.

2. In the Income-tax Rules, 1962, in Appendix-II, for Form ITR-7, the following Form shall be substituted, namely:- (contd.. please refer Notification 23/2022)

Income Tax Return (ITR) E-Filing Validation Rules AY 2022-23

CBDT has released different sets of ‘Validation Rules’ for e-filing of the following ITR Forms, in respect of AY 2022-23:

1. ITR-1 Sahaj E-filing Validation Rules AY 2022-23 (v. 1.0 dt. 19/04/2022)

2. ITR-2 E-filing Validation Rules AY 2022-23 (v. 1.0 dt. 20/04/2022)

ITR Forms and Instructions (AY 2021-22)

CBDT has notified the ITR Forms applicable for AY 2021-22 (Forms ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 & ITR-7), along with revised Instructions for respective ITR Forms and Business Codes List, as detailed here-under:

CBDT Income Tax Notification 21/2021 dt. 31/03/2021: ITR Forms applicable for FY 2020-21/ AY 2021-22 notified

Also CBDT has issued relevant Instructions for filing of Income Tax Returns (Forms ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 & ITR-7), including list of revised business codes, under Rule 12 of the Income Tax Rules 1962. It may be noted that these instructions are guidelines for filling the particulars in the applicable ITR Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

It may be noted that from FY 2020-21/ AY 2021-22, Income Tax Deptt has introduced JSON Offline Utility, as against the Java/ Excel Offline Utility used in the past for e-filing of the Income Tax Returns (upto FY 2019-20/ AY 2020-21).

1. ITR-1 Sahaj

Form ITR-1 Sahaj is to be used for filing of Income Tax Return by resident individuals (other than not ordinarily resident) having total income of upto Rs. 50 lakh (AY 2021-22), which includes income from Salary/ Pension, one House Property, Other Sources (Interest income and/ or family pension). In a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, the Form ITR-1 Sahaj can be used only if the income being clubbed falls into the above income categories.

Form ITR-1 Sahaj | Instructions

2. ITR-2

Form ITR-2 is to be used for filing of Income Tax Return by Individuals and HUFs not having income from profits and gains from business or profession and who is not eligible to file Form ITR‐1 (Sahaj).

Form ITR-2 | Instructions

3. ITR-3

Form ITR-3 is to be used for filing of Income Tax Return by individuals and HUFs having income from profits and gains from business or profession and who is not eligible to file Form ITR‐1 (Sahaj), ITR‐2 or ITR‐4 (Sugam).

Form ITR-3 | Instructions

4. ITR-4 Sugam

Form ITR 4 Sugam is to be used for filing of Income Tax Return by resident Individuals (other than not ordinarily resident), HUFs and Firms (other than LLP) having total income upto Rs.50 lakh (AY 2021-22) and who has income under the following heads:‐

(a) Income from business where such income is computed on presumptive basis under Section 44AD (i.e. Gross Turnover upto Rs. 2 crore) or Section 44AE (income from goods carriage upto ten vehicles); or

(b) Income from Profession where such income is computed on presumptive basis under Section 44ADA (i.e. Gross receipt upto Rs. 50 lakh); or

(c) Income from Salary/ Pension; or

(d) Income from One House Property; or

(e) Interest income and/or income from family pension taxable under Other Sources.

Note 1: The income computed on presumptive basis under sections 44AD or 44AE or 44ADA shall be presumed to have been computed after giving full effect to every loss, allowance, depreciation or deduction under the Income‐tax Act. However, person having loss after giving effect to proviso to sub‐section 3 of Section 44AE shall file ITR-5.

Note 2: Further, in a case where the income of another person like spouse, minor child, etc. is to be clubbed with the income of the assessee, this Return Form can be used only if the income being clubbed falls into the above income categories.

Form ITR-4 Sugam | Instructions

5. ITR-5

Form ITR 5 is to be used for filing of Income Tax Return by a Firm, Limited Liability Partnership (LLP), Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Person (AJP) referred to in clause (vii) of section 2(31), local authority referred to in clause (vi) of section 2(31), representative assessee referred to in section 160(1)(iii) or (iv), Primary Agricultural Credit Society, Co‐operative Bank other than a primary agricultural credit society or a primary co‐operative agricultural and rural development bank, Primary Co‐operative Agricultural and Rural Development bank, any other cooperative society, society registered under Societies Registration Act, 1860 or under any other law of any State, trust other than trusts eligible to file Form ITR‐7, estate of deceased person, estate of an insolvent, business trust referred to in section 139(4E), investments fund referred to in section 139(4F) and Any other AOP/BOI. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4D) shall not use Form ITR-5.

Form ITR-5 | Instructions

6. ITR-6

Form ITR 6 is to be used for filing of Income Tax Return by Companies other than the companies which are claiming exemption under section 11 of the Income Tax Act, 1961 (which are required to file return in Form ITR‐7).

Form ITR-6 | Instructions

7. ITR-7

Form ITR 7 is to be used for filing of Income Tax Return by persons (including companies) required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only, i.e. the category of persons whose income is unconditionally exempt under various clauses of section 10, and who are not mandatorily required to furnish their return of income under the provisions of section139:

Form ITR-7 | Instructions

Revised Business Codes List (AY 2021-22)

CBDT has issued revised Instructions for filing of Forms ITR-3, ITR-4 (Sugam), ITR-5, ITR-6 and ITR-7 for AY 2021-22, which includes revised List of Business Codes, which are to be used during filing of Income Tax Returns by Assessees, having income from Profit and Gains from Business & Profession.

The revised List of Business Codes segregates all business/ professions into different sectors/ sub-sectors and assigns respective codes to each sub-sector. Assessees are required to select the correct business code, for correct filing of the Income Tax Return.

Note: Please visit E-filing website of Income Tax Deptt for all updated ITR Forms/ Instructions/ Excel Utilities/ Schema, etc.