New ITR Forms For Assessment Year 2019-2020
Vide notification dated 1st April, 2019, the CBDT has introduced Income Tax (Second Amendment) Rules, 2019. Vide the said notification the CBDT has notified Income Tax Return (ITR) Forms for the Assessment Year 2019-2020 (Financial year 2018-2019). In total 7 types of Income Tax Return Norms are being notified which are being listed herein below –
| ITR | CATEGORIES OF PERSON |
| Form ITR-1 SAHAJ | Individual being a resident (other than not ordinarily resident) having total income up to INR 50 Lakhs having income from salaries, one house property, other sources (Interest etc.) and agricultural income upto INR 5,000. |
| Form ITR-2 | Individual and HUF not having income from profits and gains of business or profession. |
| Form ITR-3 | Individual and HUF having income from profits and gains of business or profession. |
| Form ITR-4 | Individual, HUF and Firm (Other than LLP) being a resident having total income upto INR 50 Lakhs and having income from business and profession which is computed under section 44AD, 44ADA or 44AE. |
| Form ITR-5 | Person other than Individual, HUF, company and person filing Form ITR-7. |
| Form ITR-6 | Companies other than companies claiming exemption under section 11. |
| Form ITR-7 | Persons including companies required to furnish return under section 139(4A) or 139(4B) or 139(4C) or 139(4D) only |
From now onwards, facility of paper filing is available only to those who are aged more than 80 years at any time during the previous year and who are furnishing return in Form ITR-1 (SAHAJ) and Form ITR-4 (SUGAM).
HIGHLIGHTING THE ADDITIONS BEING MADE IN ITR FOR THE ASSESSMENT YEAR 2018-2019 –
FORM ITR-1 SAHAJ
Similar to the old format, the gross total income, in the new ITR-1 SAHAJ, is also divided into three section –
- Section B1 – Salary / Pension;
- Section B2 – House Property;
- Section B3 – Income from other sources.
However the same has been made more detailed. In case of house property, if the individual is owning the house property, he is required to provide details of the same like whether it is self-occupied, let out or deemed let out.
ITR-1 NOT APPLICABLE for Residents who are:
It is important to note here that from now onwards, Form ITR-1 SAHAJ cannot be used by the-
- individual having directorship in any Company or
- individual who has invested in unlisted equity share capital or
- individual who has claimed deduction u/s 57, other than deduction claimed under clause (iia)
- or individual who is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assessee.
FORM ITR-2
List of new information inserted in FORM ITR-2 is being detailed hereunder –
POINT NO. (d) –
Residential Status in India (for individuals)
Earlier only residential status i.e. Resident, Non-Resident or Resident but Not Ordinarily Resident was to be provided, however, as per the newly introduced FORM ITR-2 applicable for AY 2019-2020, individual details of the residential status needs to be provided. The same is detailed hereunder –
A. Resident –
- You were in India for 182 days or more during the previous year;
- You were in India for 60 days or more during the previous year, and have been in India for 365 days or more within the 4 preceding years.
B. Resident but not Ordinarily Resident –
- You have been a non-resident in India in 9 out of 10 preceding years;
- You have been in India for 729 days or less during the 7 preceding years.
C. Non-resident –
- You were a non-resident during the previous year.
Residential Status in India (for HUF) – Resident / Resident but not ordinarily Resident / Non-resident. Details of residential status for HUF is added for the first time.
POINT NO. (H) – NEWLY INTRODUCED DIRECTORSHIP DETAILS –
Whether you were Director in a company at any time during the previous year?
If yes, following details needs to be provided –
- Name of the Company,
- PAN,
- Whether its shares are listed or unlisted? and
- Director Identification Number.
POINT NO. (I) – NEWLY INTRODUCED DETAILS OF HOLDING OF UNLISTED EQUITY SHARES –
Whether you have held unlisted equity shares at any time during the previous years?
If yes, following details needs to be provided –
- Name of the Company,
- PAN,
- Opening Balance,
- Shares acquired during the year,
- Shares transferred during the year and
- Closing balance.
SCHEDULE FA – DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA
Additional information needs to be provided with respect to Point A covering foreign bank account. The information to be provided in older format as compared to the same to be provided in newer format is being summarized in the table below –
| Older Format | New Format |
| A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year. | A1. Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the relevant accounting period.
A2. Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the relevant accounting period. A3. Details of Foreign Equity and Debt Interest held (including any beneficial interest) at any time during the relevant accounting period. A4. Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the relevant accounting period. |
FORM ITR-3
List of new information inserted in FORM ITR-3 is being detailed hereunder –
POINT NO. (d) –
Residential Status in India (for individuals)
Earlier only residential status i.e. Resident, Non-Resident or Resident but Not Ordinarily Resident was to be provided, however, as per the newly introduced FORM ITR-2 applicable for AY 2019-2020, individual details of the residential status needs to be provided. The same is detailed hereunder –
A. Resident –
- You were in India for 182 days or more during the previous year;
- You were in India for 60 days or more during the previous year, and have been in India for 365 days or more within the 4 preceding years.
B. Resident but not Ordinarily Resident –
- You have been a non-resident in India in 9 out of 10 preceding years;
- You have been in India for 729 days or less during the 7 preceding years.
C. Non-resident –
- You were a non-resident during the previous year.
New introduction of Residential Status in India (for HUF) – Resident / Resident but not ordinarily Resident / Non-resident.
POINT NO. (H) – NEWLY INTRODUCED DIRECTORSHIP DETAILS –
Whether you were Director in a company at any time during the previous year?
If yes, following details needs to be provided –
- Name of the Company,
- PAN,
- Whether its shares are listed or unlisted? and
- Director Identification Number.
POINT NO. (I) – NEWLY INTRODUCED DETAILS OF HOLDING OF UNLISTED EQUITY SHARES –
Whether you have held unlisted equity shares at any time during the previous years?
If yes, following details needs to be provided –
- Name of the Company,
- PAN,
- Opening Balance,
- Shares acquired during the year,
- Shares transferred during the year and
- Closing balance.
POINT NO. (l) –
Whether assessee is located in an International Financial Service Centre and derives income solely in convertible foreign exchange? –
PROFIT AND LOSS ACCOUNT –
Earlier Part A- P & L Profit and Loss Account is now divided into three parts namely –
Part A- Manufacturing Account;
Part A- Trading Account; and
Part A- P & L
SCHEDULE GST – INFORMATION REGARDING TURNOVER / GROSS RECEIPT REPORTED FOR GST –
Wherein GSTIN Nos. and annual value of outward supplies as per the GST returns filed needs to be mentioned.
SCHEDULE FA – DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA
Additional information needs to be provided with respect to Point A covering foreign bank account. The information to be provided in older format as compared to the same to be provided in newer format is being summarized in the table below –
| Older Format | New Format |
| A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year. | A1. Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the relevant accounting period.
A2. Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the relevant accounting period. A3. Details of Foreign Equity and Debt Interest held (including any beneficial interest) at any time during the relevant accounting period. A4. Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the relevant accounting period. |
FORM ITR – 4 – SUGAM –
List of new information / amendment in older one in FORM ITR-4 is being detailed hereunder –
POINT NO. (A23) –
Whether this return is being filed by a representative assessee?
If yes than following details need to be provided –
- Name of the representative,
- Capacity of the representative,
- Address of the representative and
- Permanent Account Number of the representative.
COMPUTATION OF PRESUMPTIVE INCOME FROM GOODS CARRIAGES UNDER SECTION 44AE –
Following additional information needs to be provided in a tabular format as reproduced hereunder –
| Registration No. of the goods carriage | Whether owned / leased / hired | Tonnage capacity of goods carriage | Number of the months for which goods carriage was owned / leased / hired by assessee | Presumptive income u/s 44AE for the goods carriage |
Entire Schedule AL Assets and Liability at the end of the year has been omitted.
New Schedule 80G Details of Donations entitled for deduction under section 80G has been inserted.
ITR-4 Sugam NOT APPLICABLE for:
1) Firm which is Not Resident.
2) HUF which is NOT ordinarily Resident.
3) Resident, other than not ordinarily resident who is :
i. Director in any company;
ii. Has held any unlisted equity share at any time during 2018-19.
iii. Has total income, exceeding Rs. 50 lacs.
iv. Owns more than one house property.
v. Has any brought forward loss or loss to be carried forward under any head of income;
vi. Is assessable for the whole or any part of the income on which tax has been deducted at source in the hands of a person other than the assessee.
FORM ITR-5 –
List of new information inserted in FORM ITR-5 is being detailed hereunder –
POINT NO. (e) – Whether assessee is located in an International Financial Services Centre and derives income solely in convertible foreign exchange?
POINT NO. (f) – Whether you are recognized as start up by DPTT?
POINT NO. (g) – If yes, please provide start up recognition number allotted by the DPTT.
POINT NO. (h) – Whether certificate from inter-ministerial board for certification is received?
POINT NO. (i) – If yes, please provide the certification number.
POINT NO. (m) – Whether you are Partner in a firm?
If yes, Name of the firm and PAN needs to be provided.
POINT NO. (n) –DETAILS OF HOLDING OF UNLISTED EQUITY SHARES –
Whether you have held unlisted equity shares at any time during the previous years?
If yes, following information needs to be provided –
- Name of the Company,
- PAN,
- Opening Balance,
- Shares acquired during the year,
- Shares transferred during the year and
- Closing balance
PROFIT AND LOSS ACCOUNT –
Earlier Part A-P & L Profit and Loss Account is now divided into following three parts –
- Part A-Manufacturing Account,
- Part A-Trading Account and
- Part A-P & L
SCHEDULE RA – DETAILS OF DONATIONS TO RESEARCH ASSOCIATIONS ETC. (DEDUCTION UNDER SECTION 35(1) (ii) or 35(1)(iia) or 35(1)(iii) or 35(2AA) –
Details of Name and address of the donee, PAN of the donee, Amount of donation, Eligible amount of donation.
SCHEDULE 80P – DEDUCTIONS UNDER SECTION 80P
SCHEDULE IF – INFORMATION REGARDING PARTNERSHIP FIRMS NEEDS TO BE PROVIDED –
Following details are to be provided –
- Name of the firm,
- PAN of the firm,
- Whether the firm is liable for audit?,
- Whether section 92E is applicable to firm?
- Percentage share in the profit of the firm,
- Amount of the share in the profit, and
- Capital balance on 31st March in the firm.
SCHEDULE FA – DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA
Additional information needs to be provided with respect to Point A covering foreign bank account. The information to be provided in older format as compared to the same to be provided in newer format is being summarized in the table below –
| Older Format | New Format |
| A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year. | A1. Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the relevant accounting period.
A2. Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the relevant accounting period. A3. Details of Foreign Equity and Debt Interest held (including any beneficial interest) at any time during the relevant accounting period. A4. Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the relevant accounting period. |
SCHEDULE GST – INFORMATION REGARDING TURNOVER / GROSS RECEIPT REPORTED FOR GST –
Wherein GSTIN Nos. and annual value of outward supplies as per the GST returns filed needs to be mentioned.
FORM ITR-6 –
ADDITIONAL INFORMATION UNDER FILING STATUS –
POINT NO. (n) – Whether the company is a producer company as defined in sec. 581A of Companies Act, 1956?
POINT NO. (p) – Whether you are recognized as start up by DPIIT?
- If yes, please provide star up recognition number allotted by the DPIIT
- Whether certificate from inter-ministerial board for certification is received?
- If yes, provide the certificate number.
- Whether declaration in Form-2 in accordance with para-5 of DPIIT notification dated 19/01/2019 has been filed before filing of the return?
- If yes, provide date of filing Form-2
PROFIT AND LOSS ACCOUNT –
Earlier Part A-P & L Profit and Loss Account is now divided into following three parts –
- Part A-Manufacturing Account,
- Part A-Trading Account and
- Part A-P & L.
PROFIT AND LOSS ACCOUNT IND AS –
Earlier Part A-P & L-Ind AS Profit and Loss Account is now divided into following three parts –
- Part A-Manufacturing Account Ind AS,
- Part A-Trading Account Ind AS and
- Part A-P & L Ind AS
SCHEDULE 80GGA – DETAILS OF DONATIONS FOR SCIENTIFIC RESEARCH OR RURAL DEVELOPMENT –
Details like Relevant Clause under which deduction is claimed, Name and address of the donee, PAN of donee, Amount of donation, Eligible amount of donation.
SCHEDULE RA – DETAILS OF DONATIONS TO RESEARCH ASSOCIATIONS ETC. (DEDUCTION UNDER SECTION 35(1) (ii) or 35(1)(iia) or 35(1)(iii) or 35(2AA) –
Details of Name and address of the donee, PAN of the donee, Amount of donation, Eligible amount of donation.
SCHEDULE FA – DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA
Additional information needs to be provided with respect to Point A covering foreign bank account. The information to be provided in older format as compared to the same to be provided in newer format is being summarized in the table below –
| Older Format | New Format |
| A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year. | A1. Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the relevant accounting period.
A2. Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the relevant accounting period. A3. Details of Foreign Equity and Debt Interest held (including any beneficial interest) at any time during the relevant accounting period. A4. Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the relevant accounting period. |
SCHEDULE SH-1 – SHAREHOLDING OF UNLISTING COMPANY (OTHER THAN A START-UP FOR WHICH SCHEDULE SH-2 IS TO BE FILED UP)
If you are an unlisted company, please furnish details –
- Details of shareholding at the end of the previous year;
- Details of equity share application money pending allotment at the end of the previous year;
- Details of shareholders who is not a shareholder at the end of the previous year but was a shareholder at any time during the previous year.
SCHEDULE SH-2 – SHAREHOLDING OF START-UPS
If you are a start-up which has filed declaration in Form-2 under Para 5 of DPIIT notification dated 19.02.2019, furnish following details of shareholders –
- Details of shareholding at the end of the previous year;
- Details of share application money pending allotment at the end of the previous year;
- Details of shareholders who is not a shareholder at the end of the previous year but was a shareholder at any time during the previous year.
SCHEDULE AL-1 – ASSETS AND LIABILITIES AS AT THE END OF THE YEAR
SCHEDULE AL-2 – ASSETS AND LIABILITIES AS AT THE END OF THE YEAR (APPLICABLE FOR START-UPS ONLY)
FORM ITR – 7
Point no. (h) – Whether you are Partner in a firm?
If yes, Name of the firm and PAN needs to be provided.
Point no. (i) – Whether you have held unlisted equity shares at any time during the previous year?
If yes, details like Name of company, PAN, Opening Balance, Share acquired during the year, Shares transferred during the year and closing balance needs to be provided.
SCHEDULE IE-1, SCHEDULE IE-2, SCHEDULE IE-3 AND SCHEDULE IE-4 –
Four new schedule has been added relating to Income and Expenditure account covering various exemptions claimed by assessee. Various details with respect to the exemptions needs to be provided.
SCHEDULE FA – DETAILS OF FOREIGN ASSETS AND INCOME FROM ANY SOURCE OUTSIDE INDIA
Additional information needs to be provided with respect to Point A covering foreign bank account. The information to be provided in older format as compared to the same to be provided in newer format is being summarized in the table below –
| Older Format | New Format |
| A. Details of Foreign Bank Accounts held (including any beneficial interest) at any time during the previous year. | A1. Details of Foreign Depository Accounts held (including any beneficial interest) at any time during the relevant accounting period.
A2. Details of Foreign Custodial Accounts held (including any beneficial interest) at any time during the relevant accounting period. A3. Details of Foreign Equity and Debt Interest held (including any beneficial interest) at any time during the relevant accounting period. A4. Details of Foreign Cash Value Insurance Contract or Annuity Contract held (including any beneficial interest) at any time during the relevant accounting period. |
SCHEDULE SH – SHAREHOLDING OF UNLISTING COMPANY
If you are an unlisted company you need to furnish following details –
- Details of shareholding at the end of the previous year;
- Details of equity share application money pending allotment at the end of the previous year;
- Details of shareholders who is not a shareholder at the end of the previous year but was a shareholder at any time during the previous year.
Paper Returns / Physical Returns
Paper Return can be filed ONLY by persons of 80 years or more filing ITR-1 or 4. All other individuals to file ITRs electronically. Earlier individuals having income upto 5 lacs filing ITR1 or 4 could file paper returns.
Do I declare PF account of foreign country as part of Schedule FA. Under which section it has to be included. I am a tax resident in India, the PF of foreign country (which was kept since I still hold a resident visa and can’t be closed) is taxable in India.
A resident having income exceeding Rs. 50.00 lakh and also have foreign assets has to file Schedule FA and Schedule AL. Whether details of foreign assets filled in FA again to be included in Schedule AL.
Does omission of AL – Assets and Liabilities in Form ITR – 4 mean that personal Assets and Liabilities of individual professionals / consultants need not be disclosed as the Gross taxable Income is less than Rs.50 Lakhs
I fully agree with Pandit R Dakshina murthi’s views regarding the mistake in ITR3 for 44ADA in BP
ANY REPLY
One question regarding to other source of income. I withdraw the EPF amount before the 5 years which is taxable. Where i should put that withdrawn amount in the ITR 1 form?
SUB: MAJOR ERROR IN ITR3 UTILITY RELEASED BY THE DEPARTMENT – income is calculated erraneously (as double that is actually earned due to a coding error/ validation error).
Dear Sir/ Madam: In schedule BP, item A1 (Profit before tax as per profit and loss account (item 53 ,61(ii), 62(ii), 63(ii), 64(iii) and 65(iv) of P&L )), you should take the sum of items 53, 64(iii) and 65(iv) as the profit before tax; that is the CORRECT calculation. BECAUSE, 64(iii) is already sum of 61(ii), 62(ii) and 63(ii). so, if you add 61(ii), 62(ii), 63(ii), AND also 64(iii), it actually shows double-the-value of actual income earned (due to wrong repetitive addition as explained above). Kindly correct the tax return utility by altering the schema for the form suitably after consultation with experts in your department in this regard.
You may check the validity of this by inputting sample data from your end itself (to see that the actual income is calculated wrongly by the utility – exactly double the original income earned by the assessee due to reasons mentioned above).
ALTERNATIVE REMEDY SUGGESTED: item 64 (i) and 64 (ii) may be made OPTIONAL for those who are filing under presumptive tax scheme (because items 61, 62, and 63 of P and L statement schedule already cover exactly the same incomes). i..e in the validation criteria, you may allow the assessee to fill in EITHER 61/ 63/ 63 as applicable OR, the item 64 of the P and L statement so that there won’t be validation errors and still the department also will get the right info that they need for judging income under various heads earned by the assessee.
Requesting your speedy intervention in this regard in the best interests of all tax-payers.
Would someone be able to clarify the following?
1. In Schedule CG, LTCG, item B, form ITR 2 says that item 4,5,6 and 7 are not applicable to Residents but there is no such mention against item 4 which means that item 4 is applicable to Residents. There seems to be a printing mistake here.
2. What is the purpose of asking for details of all ‘Unlisted’ shares along with their PAN? Many companies issued in the past have just vanished or don’t find a mention in any website, or don’t send any annual report or have closed down or under liquidation, etc. Such shares are mostly in physical form which cannot be transferred, if at all it is required to be done, unless they get into demat form. When the companies don’t exist or don’t correspond with shareholders, what does a shareholder of such an unlisted company do? It is impossible to get the PAN of such companies too and so this information cannot be given on the Tax Return form. I think the I-T Dept. has not given adequate thought while asking for this information, and so asking for this information needs to be reconsidered. There may be a few unscrupulous persons who use the medium of unlisted shares to avoid paying taxes, but the solution is not to ask everyone to give details of such useless unlisted shares in their Tax Return. This information also would presumably be asked for every year hereafter! It should be sufficient to ask for this information only where a person reports having bought or sold such shares during the
year, and not from those who hold unlisted shares without any transaction during the year.
Respected Sir,
Firstly, there is no change in deduction u/s 80d being sr. citizen can claim Rs.50000/- without medical insurance
secondly ,If employer deducted Rs.30000/- from salary as post retirement treatment after retirement under “MEDICAL HEALTH SCHEME”bdeing retired on 31st august 2018 on attaining 60 years .This treatment at slected hospitals cashless indoor treatment. This amount can seprately claimed .
deduction u/s 80d .
Thirdly, If employer has contributed in annuity pension scheme i.e. 10 % of the salary (BASIC+DA) THEN IT SHOULD BE CLAIMED SEPERATLY NOT U/S 80C,THEN IN WHICH SECTION.
FOURTHY, I INVESTED Rs.100000/- LIC SAMARIDHI PLUS ON MAY 2011 SINGLE PREMIUM POLICY WITH INSURANCE 1.25 OF PREMIUM. NOW I REPURCHASED ON SEP.2018. LIC SHOWS INCOME FY 2018-19 IN 26AS Rs.193512/- & DEDUCTED TSD Rs 1935/- NET CREDITED TO MY A/C Rs.191577/- MY QUESTION IS THAT I RETAINED POLICY MORE THAN SEVEN YEARS .WHICH AMOUT I SHALL TAKEN IN MY ITR IS RS.93512/- OR EXEMPTED ALL INCOME.Rs.100000/ WAS MY INTIAL INVESTMENT. KINDLY REPLY AT THE URGENT.