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Income tax assessees are set to come across certain impediments while selecting the income tax return (ITR) forms to be used for assessment year (AY) 2019-20. However, some sections in the forms have been rationalized and reporting requirements has been increased. Individuals and businesses both are liable to file their ITRs for the income earned in
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New requirements in ITR 1. Additional disclosure requirements for Ind AS Compliant Companies. 2. Fees for late filing of return [Section 234F]. 3. There is a requirement to furnish a break-up of salary. Require more details of house property income. 4. Additional details to be furnished by taxpayers opting for presumptive scheme such as amount
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