INCOME TAX RETURNS (ITR)-Changes in forms and Applicability

The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) Forms applicable for the Assessment Year 2018-19 vide Notification No. 16/2018-Income Tax Dated- 03/04/2018. The new forms incorporate the changes made by the Finance Act, 2017 in the Income-tax Act, 1961. It is apparent that the new ITR Forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions refer table 2.

1) ITR Forms Applicable for Assessment Year 2018-19

[table id=53 /]

2)Additional Disclosure Requirements / Changes/ Amendment in ITR for A.Y. 2018-19

[table id=54 /]

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