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ITR Forms For Asstt Year 2023-24 : The Central Board of Direct Taxes (CBDT) has notified Income-tax Return Forms (ITR Forms) for the Asstt Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023.
These ITR forms will come into effect from 1st April, 2023 and have been notified well in advance in order to enable filing of returns from the beginning of the ensuing Assessment Year.
In order to facilitate the taxpayers and to improve ease of filing, no significant changes have been made to the ITR Forms in comparison to last year’s ITR Forms. Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made.
ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler Forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by a resident individual having income upto Rs. 50 lakh and who receives income from salary, one house property, other sources (interest etc.) and agricultural income upto Rs. 5 thousand.
Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs)) being a resident having total income upto Rs. 50 lakh and income from business and profession computed under sections 44AD, 44ADA or 44AE.
Individuals and HUFs not having income from business or profession (and not
eligible for filing Sahaj) can file ITR Form 2 while those having income from business or profession can file ITR Form 3.
Persons other than individuals, HUFs and companies i.e. partnership firms, LLPs etc. can file ITR Form 5.
Companies other than companies claiming exemption under section 11 can file ITR Form 6.
Trusts, political parties, charitable institutions, etc. claiming exempt income under the Act can file ITR Form 7.
In order to further streamline the ITR filing process, not only have all the ITR
forms been notified well in time this year, no changes have been made in the manner of filing of ITR Forms as compared to last year.
The notified ITR Forms will be available on the Department’s website at www.incometaxindia.gov.in
List of All ITR Forms For Asstt Year 2023-24
Form No. : ITR-1 SAHAJ
For individuals being a resident (other than not ordinarily resident) having total income up to Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income up to Rs.5 thousand
Form No. : ITR-2
For Individuals and HUFs not having income from profits and gains of business or profession
Form No. : ITR-3
For individuals and HUFs having income from profits and gains of business or profession
Form No. : 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
Form No. : ITR-6
For Companies other than companies claiming exemption under section 11
Form No. : ITR-7
For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only
Form No. : ITR-V
Where the data of the Return of Income in Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4), ITR-5, ITR-7 filed but NOT verified electronically
Form No. : Acknowledgement
Where the data of the Return of Income in Form SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4), ITR-5, ITR-6, ITR-7 filed and verified
FAQ on ITR Forms For Asstt Year 2023-24
No significant changes have been made to the ITR Forms in comparison to last year’s ITR Forms. Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made.
Sahaj can be filed by a resident individual having income upto Rs. 50 lakh and who receives income from salary, one house property, other sources (interest etc.) and agricultural income upto Rs. 5 thousand.
Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs)) being a resident having total income upto Rs. 50 lakh and income from business and profession computed under sections 44AD, 44ADA or 44AE.
These ITR forms will come into effect from 1st April, 2023
Companies other than companies claiming exemption under section 11 can file ITR Form 6.
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