New ITR Forms for this Tax Season, FY 2021-22 (AY 2022-23)

The Income Tax Department has released the ITR Forms for AY 2022-23…and also…wait for it …enabled e-filing for ITR and ITR 4 all within just two weeks into the New Financial Year!

In the beginning of every Financial Year, the ITD releases New ITR Forms for the upcoming tax season. So, what has changed since the last year? Let’s take a look.

Reporting Capital Gains
While filing ITR 2 & ITR 3, taxpayers need to furnish some additional information while reporting capital gains.

Details about the New Tax Regime
Taxpayers filing ITR 3 and ITR 4 need to provide some additional regarding the New Tax Regime while filing ITR

Reporting Interest earned from Provident Fund
Starting 1st April 2021, interest earned on EPF and VPF will be taxable if yearly contribution exceeds
INR 2.5 lakh for Non-Government employees
INR 5 lakh for Government employees
So, you need to report that income while filing ITR

Reporting Foreign Assets & Income earned from Overseas Pension Account
Some tweaks have also been regarding Reporting Foreign Assets and Income earned from Overseas Pension Account

You can more about the new ITR Forms, here

Got more questions? Shoot’em