CBDT Notifies new ITR Forms
THE CBDT has notified new FORM ITR-3, FORM ITR-4, FORM ITR-5, FORM ITR-6 and FORM ITR-7.
The Forms are for:
ITR-3 | For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship. |
ITR-4 | For individuals and HUFs having income from a proprietary business or profession. |
ITR-5 | For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7 |
ITR-6 | For Companies other than companies claiming exemption under section 11 |
ITR-7 | For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) |
Some of the new requirements are:
1. Aadhaar information has to be given for ITR-3 and ITR-4. Never mind if you don't have aadhaar.
2. If you are an HUF, the date of forming the HUF has to be furnished - ITR-4
3. While it is mandatory to furnish details of all bank accounts, dormant accounts are excluded – for all forms.
4. ITR-5 requires details of remuneration paid to partners.
5. Detailed information is sought on foreign accounts.
6. Income from house property –to be declared if the property is let out or deemed to be let out. If you have more than one house, one can be claimed as self-occupied and the others are deemed to be let out.
CBDT Notification 61/2015, Dated: July 29, 2015