CBDT has released New Income Tax return form for assessment year 2016-17.Last year income tax department has released the Final Income tax return form in last week of June ,due to which Income tax return due date has extended and lately due date in audit cases was also extended after the court interference .We have not gone through Income tax forms in detailed but ITR-1 and ITR-2 are more or less is same as it were last year.
However for assessment year 2016-17, the tax department has now included a schedule on asset and liabilities which will have to be filled by individuals and HUFs, or Hindu Undivided Families, where total income exceeds Rs.50 lakh. It has also asked individuals and HUFs to provide details of pass-through income from business trust or investment fund in ITR form 2 and ITR form 2A.
| (a) | in sub-rule (1),— |
| (A) | after the word, brackets, figure and letter “sub-section (4E)”, the words, brackets, figure and letter “or sub-section (4F)” shall be inserted; | |
| (B) | for the figures “2015”, the figures “2016” shall be substituted; | |
| (C) | in clause (ca), after the words “Hindu undivided family”, the words “or a firm, other than a limited liability partnership firm,” shall be inserted; | |
| (D) | in clause (g), after the word, brackets, figure and letter “sub-section (4E)”, the words, brackets, figure and letter “or sub-section (4F)” shall be inserted; |
| (b) | in sub-rule (5), for the figures “2014”, the figures “2015” shall be substituted. |
(2) in Appendix-II, for “Forms Sahaj (ITR-1), ITR-2, ITR-2A, ITR-3, Sugam (ITR-4S), ITR-4, ITR-5, ITR-6, ITR-7 and ITR-V”, the following forms shall respectively be substituted, namely:—
Download ITR forms for AY -2016-17
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Read more: INCOME TAX RETURN FORM AY 2016-17 NOTIFIED | SIMPLE TAX INDIA
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