Simplified New Income Tax Return (ITR) Forms for AY 2017-18 (corresponding to FY/ PY 2016-17) notified by CBDT, along with Excel Utility and Instructions for E-Filing
The CBDT has notified new income tax return (ITR) forms and ITR-V Acknowledgement for Assessment Year (AY) 2017-18 for simplified e-filing w.e.f. 1 Apr. 2017. Further excel utility for ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5 and ITR-7 has been released along with Instructions for e-filing thereof.
The Income Tax (4th Amendment) Rules 2017 notified for new ITR Forms for AY 2017-18 specially takes care of the convenience of the salaried class assessees (ease of filing) with income upto Rs. 50 Lac p.a., in line with the Budget 2017 proposals. Salaried Individuals with interest income can now file their ITR using simplified ITR-1 Sahaj, which has been modified after removing/ clubbing of many rows/ columns to make this form ‘SAHAJ’ in real terms.
It may be noted that from 1 Jul. 2017 onwards, it would be mandatory for taxpayers to provide the Aadhaar number at the time of filing the ITR, as per Budget 2017 proposals, along with PAN and other personal information. The information on taxes paid and TDS will be auto-filled in the ITR form by the software used at the e-filing website of Income Tax Deptt.
New ITR Forms/ Excel Utility notified/ enabled by CBDT for AY 2017-18 (Download pdf copy)
CBDT has notified new simplified ITR Forms for AY 2017-18. Further, Form ITR 1 Sahaj, ITR 2, ITR 3 and ITR 4 Sugam are now available/ enabled at e-Filing portal with Instructions for ITR-1 Sahaj and ITR-4 Sugam, as under:
1. ITR-1 Sahaj
For Individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh
For Individuals and HUFs not carrying out business or profession under any proprietorship.
For individuals and HUFs having income from a proprietary business or profession.
4. ITR-4 Sugam
For presumptive income from Business & Profession
For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7
For Companies other than companies claiming exemption under section 11
For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F).
For Instructions on how to fill and e file the ITR, please download and unzip the relevant file.
CBDT Notification on New Simplified ITR Forms (AY 2017-18)
The Central Board of Direct Taxes has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2017-18. One of the major reforms made in the notified ITR Forms is the designing of a one page simplified ITR Form-1 (Sahaj). This ITR Form-1 (Sahaj) can be filed by an individual having income upto Rs.50 lakh and who is receiving income from salary one house property/ other income (interest etc.). Various parts of ITR Form-1 (Sahaj) viz. parts relating to tax computation and deductions have been rationalised and simplified for easy compliance. This will reduce the compliance burden to a significant extent on the individual tax payer. This initiative will benefit more than two crore tax-payers who will be eligible to file their return of income in this simplified Form.
Simultaneously, the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.
There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:-
(i) an individual of the age of 80 years or more at any time during the previous year; or
(ii) an individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income.
S.O.1006(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 the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (Fourth Amendment) Rules, 2017. (2) They shall come into force with effect from the 1st day of April, 2017. …contd… (please refer attachment for complete text).