Income Tax Return Forms for Assessment Year 2023-24 in advance

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New Delhi: Income Tax Return Forms for Assessment Year 2023-24: The Central Board of Taxation (CBDT) has notified regarding Income Tax Return Form (ITR Form) for the assessment year 2023-24. This ITR form will be effective from April 1, 2023 and has been notified in advance to enable filing of returns from the beginning of the next assessment year.

To facilitate the taxpayers and increase the ease of filing, there are no major changes in the ITR form compared to last year’s ITR form. Only the minimum necessary changes have been made as a result of the amendment to the Income Tax Act, 1961 (“the Act”).

Income Tax Return Forms Download

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.