New Delhi: The Income Tax department has notified various forms related to I-T return filing for individuals as well as companies for the assessment year 2019-20.

The Tax department has made no change in ITR-1 form or Sahaj, however it has rationalised some sections in ITR 2, 3, 5, 6 and 7.

The last date of filing Income Tax Return (ITR) is July 31 for those who are not required to get their accounts audited.

Here are various types of ITR forms and their usage

ITR-1 for AY 2019-20

This form is to be filed by individuals total income upto Rs 50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs 5 thousand.

ITR-2 for AY 2019-20

This form is to be filed by individuals and HUFs not having income from profits and gains of business or profession.

ITR-3 for AY 2019-20

This form is to be filed by individuals and HUFs having income from profits and gains of business or profession.

ITR-4 or Sugam for AY 2019-20

This form is to be filed by individuals, HUFs and Firms (other than LLP) having total income upto Rs 50 lakh and having income from business and profession which is computed under sections 44AD, 44ADA or 44AE.

ITR-5 for AY 2019-20

This form is to be filed by persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7

ITR-6 for AY 2019-20

This form is to be filed by Companies other than companies claiming exemption under section 11…….Read more>>

Source:- zeenews