INCOME TAX RETURNS FORMS FOR 2019-20 RELEASED, HERE’S ALL YOU NEED TO KNOW TO FILL YOUR ITR

-

Income Tax Returns Forms For 2019-20 Released, Here’s All You Need To Know To Fill Your ITR

April 7, 2019:
While there has been no change in ITR-1 or Sahaj, which is to be filled by the salaried class, some sections in ITR 2, 3, 5, 6 & 7 have been rationalised.
The Centre has released new Income Tax return forms for individuals & companies for the assessment year 2019-20.
The new form seeks more disclosures from the filers who claim exemption on a large agricultural income, directors on the boards of companies, individuals with properties or bank accounts abroad & those holding shares in unlisted firms.
While there has been no change in ITR-1 or Sahaj, which is to be filled by the salaried class, some sections in ITR 2, 3, 5, 6 & 7 have been rationalised.
Individuals, firms & companies have to file returns for the income earned in 2018-19 during the course of current fiscal.
·         ITR-1 is filed by individuals having a total income of up to Rs 50 lakh, having income from salaries, one house property, other sources (like interest),  & agricultural income up to Rs 5,000.
·         ITR-2 is filed by Individuals & HUFs not having income from profits  & gains of business or profession.
·         ITR-3 is filed by individuals & HUFs having income from profits  & gains of business or profession.
·         ITR-4 or Sugam is meant for individuals, HUFs & firms (other than LLP) having a total income of up to Rs 50 lakh & having presumptive income from business & profession.
Those filing ITR-3 & ITR-6 (companies) will have to disclose information regarding turnover / gross receipts reported for Goods & Services Tax included now in ITR-3 & ITR- 6 also.


MANISHANKAR

CEO-ANTI-CORRUPTION AND HUMAN RIGHTS MOVEMENT®-CHENNAI
Email: anticorruption.org2007@gmail.com.
Mobile: 91 9087856137
Follow us on-
twitter : @anticorp_2007


Comments

Post a Comment

Popular posts from this blog

ANTI-CORRUPTION LAW SERIES-25 [The Protection of Human Rights Act, 1993]

-
Image
ANTI-CORRUPTION LAW SERIES-25 The Protection of Human Rights Act, 1993 S.No Dear development leaders promote activities such as :- (All forms of corruption must be ended to secure the basic rights of all people and ensure a world where everyone can live in dignity) 1. Organize, communicate, and raise awareness on Anti corruption laws to your target people. 2. Identify the victims and witnesses of corruption in your working area 3. Identify the need of Legal consultancy for Consumer rights, women’s rights, Child rights, aged rights, revenue, education, documents registration, social welfare, public and temple property panchayat, forest, insurance, and all government department corruptions related issues etc 4. Contact for such issues with an affidavit and we will make the difference We also know that corruption can’t be rooted out in one big sweep. Rather, fighting it is a step-by-step, project-by-project process. MANISHANKAR...
Read more

ANTI-CORRUPTION LAW SERIES-23

-
Image
ANTI-CORRUPTION LAW SERIES-23 THE PROTECTION OF CIVIL RIGHTS ACT, 1955 S.No Dear development leaders promote activities such as :- (All forms of corruption must be ended to secure the basic rights of all people and ensure a world where everyone can live in dignity) 1. Organize, communicate, and raise awareness on Anti corruption laws to your target people. 2. Identify the victims and witnesses of corruption in your working area 3. Identify the need of Legal consultancy for Consumer rights, women’s rights, Child rights, aged rights, revenue, education, documents registration, social welfare, public and temple property panchayat, forest, insurance, and all government department corruptions related issues etc 4. Contact for such issues with an affidavit and we will make the difference We also know that corruption can’t be rooted out in one big sweep. Rather, fighting it is a step-by-step, project-by-project process. MANISHANKAR ...
Read more

ANTI-CORRUPTION LAW SERIES-36 [Right to Disconnect Bill, 2018]

-
Image
ANTI-CORRUPTION LAW SERIES-36  Right to Disconnect Bill, 2018 S.No Dear development leaders promote activities such as :- (All forms of corruption must be ended to secure the basic rights of all people and ensure a world where everyone can live in dignity) 1. Organize, communicate, and raise awareness on Anti corruption laws to your target people. 2. Identify the victims and witnesses of corruption in your working area 3. Identify the need of Legal consultancy for Consumer rights, women’s rights, Child rights, aged rights, revenue, education, documents registration, social welfare, public and temple property panchayat, forest, insurance, and all government department corruptions related issues etc 4. Contact for such issues with an affidavit and we will make the difference We also know that corruption can’t be rooted out in one big sweep. Rather, fighting it is a step-by-step, project-by-project process. MANISHANKAR C...
Read more