ITR 2023:- What were these major changes in ITR form, know the details

Taxpayers need to fill out the Income Tax Return Acknowledgment Form. The new ITR form has been notified for the financial year 2022-23 and assessment year 2023-24. In such a situation, if you are also a taxpayer, then you should know some important things. Let us know what major changes have taken place in it.

Know about CBDT

The Central Board of Direct Taxes (CBDT) has notified forms for filing Income Tax returns (ITR) for individuals and businesses for the financial year 2022-23.

Through a notification dated February 10, ITR Forms- ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-V (Certification Form) and (Income Tax Return Acknowledgment Form) ITR Acknowledgment Form has been issued.

What is special in the updated ITR forms

In such a situation, if you want, you can see the updated ITR form online. According to the notification issued by CBDT, the last date for filing this ITR form is 31 July 2023. Every time this form is issued at the beginning of the financial year, however, this time this form has been issued early.

Change in form

This time a special column has also been given in the form. According to this column, information about virtual digital asset income will have to be given. If you also invest money in the stock market, then you will have to give complete information about it. There is good news that ITR-1 and ITR-4, which are used by a large number of small and medium taxpayers, have been made easier than before.

Form information

Indian citizens whose annual income is up to Rs 50 lakh have to fill out Form 1. If your earning is more than Rs 50 lakh then you have to fill out Form 2. If you have invested in businessmen, equity and limited shares, then you can fill out ITR Form 3.

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