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Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19 vide notification no. 16/2018 dated 03rd April 2018. Few points to be noted about new ITR are as follows:-

1. Simplified one page ITR Form-1 (Sahaj) can be filed by an individual who is resident other than not ordinarily resident, having income upto Rs.50 lakh and who is receiving income from salary, one house property / other income (interest etc.).

2. Further, in new nootified ITR Forms  the parts relating to salary and house property have been rationalised and furnishing of basic details of salary (as available in Form 16) and income from house property have been mandated.

3. ITR Form-2 has also been rationalised by providing that Individuals and HUFs having income under any head other than business or profession shall be eligible to file ITR Form-2.

4. The Individuals and HUFs having income under the head business or profession shall file either ITR Form-3 or ITR Form-4 (in presumptive income cases).

5. In case of non-residents, the requirement of furnishing details of any one foreign Bank Account has been provided for the purpose of credit of refund.

6. Requirement of furnishing details of cash deposit made during a specified period as provided in ITR Form for the Assessment Year 201 7-18 has been done away with from Assessment Year 2018-19.

7. There is no change in the manner of filing of ITR Forms as compared to last year. All these ITR Forms are to be filed electronically. However, where return is furnished in ITR Form-1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form:-

(i) an Individual of the age of 80 years or more at any time during the previous year; or

(ii) an Individual or HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the Return of Income.

Also Read- Rule 12 of Income Tax Rules wef 1st April 2018 related to ITR

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  1. AR4VIND R SHAH says:

    what about filing of balance sheet in case of return itr 4 u/s 44AD when books are not maintained? Unles i prepare p & l how can i prepare balance sheet? pl any one clarify.

  2. Nagaratnam Chandrasekaran says:

    sir in ITR4 at items E9 and E10 turnover reported for GST is required to be mentioned. There are businesses and professionals who are below the threshold for GST and therefore not registered for GST They are filing ITR4 as there is income from business or profession. How or what will they fill here?

  3. Tiru Narayan says:

    I am a NRI.

    Can someone explain what does “resident other than not ordinarily resident” mean? Is that NRI? This is in Point 1 in the above article.

    Also, I am looking for the day when Indian IT will upgrade its systems to accept NRIs’ contact information such as foreign address (PIN code), telephone number, etc. Very many thanks.

  4. J V GURURAJ says:

    the author might have forgotten in sl no4 inITR 3,the mention of GSTR no &turnover
    that also should be noted as a point for the concernse

  5. ram babu B. Com says:

    as the dept. has NOT provided these forms in the efiling site – the dept, MAY consider providing the option of filing the return like in In this site, we will only fill the necessary details, appropriate ITR will be choosen automatically thus instead of leaving the confusion to assessee , the site shoulders the responsiblity of choosing the appropriate IT return.

  6. Omkara Nayak says:

    Iam retired RNOR aged 66 years having income from bank deposit interest and retainer fee from a private organization.

    Kindly confirm which ITR form to use.


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April 2024