CBDT notified Income Tax Return forms for Assessment year 2017-18.

The major reform made in the notified forms is the designig of one page ITR From -1 (Sahaj), which can be filed by an individual having income upto Rs.50 Lakhs and who is receiving Income from Salary, One house property/Other income (interest etc).

The number of ITR forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of the three forms. Consequently, ITR-4 and ITR-4S(Sugam) have been renumbered as ITR-3 & ITR-4 (Sugam) respectively.

There is no change in the manner of filing of ITR forms as compared to last year.

To see the press release and the new ITR Form -1, click the link below:

https://drive.google.com/open?id=0BwfaVqFwg9yDbG1LNTc5aUNEMFk