New Delhi, Feb 2 (Agency) The Central Board of Direct Taxes (CBDT) on Friday said that it has notified income-tax return (ITR) forms 2, 3, 5 and 6 for the assessment year (AY) 2024-25. The Board had earlier notified ITR-1 and ITR-4 for AY 2024-25. “All ITR Forms 1 to 6 have since been notified and will come into effect from 1st April, 2024,” the CBDT said in a press release. ITR-1 (SAHAJ) can be filed by individuals having total income upto Rs 50 lakh and having income from salaries, one house property and income from other sources. Individuals and HUFs (Hindu Undivided Families) not having income from business or profession and not eligible for filing ITR Form-1 (Sahaj) can file ITR-2. Those having income from business or profession can file ITR Form- 3.
ITR-4 (SUGAM) is for resident individuals, HUFs and firms (other than LLP) having total income upto Rs 50 lakh and having income from business and profession computed under section 44AD, 44ADA or 44AE of the Income Tax Act. Persons other than individuals, HUF and companies i.e. partnership firm, LLP etc. can file ITR Form- 5. The companies other than those claiming exemption under section 11 can file ITR Form-6. The CBDT said that changes have been incorporated in the ITRs in order to facilitate the taxpayers and to improve ease of filing. “Largely, the changes incorporated were necessitated due to amendments in the Income-tax Act, 1961 made vide Finance Act, 2023,” it said.