CBDT had further mentioned that, once the common ITR Form is notified, the online utility will be released by the Income-tax Department. As per the said release, CBDT proposes to introduce a common ITR by merging all the existing returns of income, except ITR-7 and continuing the current ITR-1 and ITR-4. CBDT vide a Press Release dated 1st November 2022 released a draft Common ITR Form for public consultation. Apart from such amendments, the Finance Minister in her budget speech clarified her intention to simplify the Income Tax Return (ITR) filing process by rolling-out a next-generation Common ITR Form for the convenience of the tax payers, and her plans to strengthen the grievance redressal mechanism. Do note that the last date for filing ITR for FY 2022-23 for individuals (whose accounts are not required to be audited) is July 31, 2023.ĭr Suresh Surana, Founder, RSM India says, "The Budget 2023 proposed several key amendments for the taxpayers. Usually, the government notifies the ITR forms at the end of the financial year or at the start of the new financial year.
However, the ITR forms have been notified almost two months earlier than usual. There are no major changes in the ITR forms.
The ITR-7 form was notified by the government on February 14, 2023. The income tax return forms were notified on February 10, 2023.
The Central Board of Direct Taxes ( CBDT) has notified the ITR forms ITR-1 to ITR-6 for the current financial year, 2022-23 (AY 2023-24). Spend P2P Data Center Fuel Rates Diesel Rates Petrol Rates Bank Pan Number Bank holidays Penny Stocks MF Ratings & NAV Top Performing Schemes Top Star Rated Schemes Top Tax Saving Schemes Highest Risk Adjusted Return New Fund Offers Forthcoming Dividends NPS Top Performing NPS Scheme Most Consistent NPS schemes ETF Perfomance Latest Prices Listed Bonds Traded in Cash Market ULIPs ULIP Schemes Calculators Recurring Deposit Calculator Fixed Deposit Calculator LTCG Tax Calculator Income Tax Calculator Rent Receipt Generator SIP Calculator IFSC Bank Code NPS Calculator Invoice Generator EPF Calculator House Property Income HRA Calculator Sukanya Samriddhi Calculator Education Loan Calculator Car Loan Calculator Home Loan Calculator Personal Loan Calculator Risk Tolerance Calculator Financial Fitness Calculator Buy Online Health Insurance Car Insurance 2 Wheeler Insurance Interest Rates Recurring Deposit Rates Fixed Deposit Rates Bank Fixed Deposits Rates Post Office Schemes Rates MCLR Loan EMI Participate & Win Stocks & Shares ET Wealth ET Wealth Editions Buy Wealth Magazine ET Wealth Newsletter
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