3 years ago

Income Tax return: New ITR forms explained

Income taxpayers must take note that new ITR forms have been notified by the finance ministry for the Assessent Year 2022-23. The ITR forms seek additional information with regard to overseas retirement benefits and interest accrual on provident fund deposits exceeding Rs 2.5 lakh a year. "For individuals being a resident having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources, and agricultural income upto Rs.5 thousand," the CBDT said. ITR 2 The ITR-2 form seeks information regarding the interest accrued in the provident fund on contributions exceeding Rs 2.5 lakh per annum. ITR 4 SUGAM ITR-4 can be filed by individuals, HUFs and firms with total income up to Rs 50 lakh and having income from business and profession.

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