homepersonal finance NewsIncome Tax Returns: Here are the main changes to this year's ITR 1, ITR 2 forms

Income Tax Returns: Here are the main changes to this year's ITR-1, ITR-2 forms

Income Tax Returns: Here are the main changes to this year's ITR-1, ITR-2 forms
Show More
Show More
Profile image

By CNBC-TV18 Jul 22, 2019 3:32:48 PM IST (Published)

A large section of the salaried individuals fill out the ITR-1 and ITR-2 and should be careful about filing the returns because if a mistake is pointed out by the IT department, can cause them to file the returns again. 

Post the interim budget in February this year, the Income Tax department has made up to nine significant changes to the ITR 1 and ITR 2 forms for the year FY18-19.

Live Tv

Loading...

A large section of the salaried individuals fill out the ITR-1 and ITR-2 and should be careful about filing the returns because if a mistake is pointed out by the IT department, it can cause them to file the returns again.
Here are the changes in the form that you need to be aware of:
  • ITR forms have to be filled electronically for all individuals, taking exception to super senior citizens whose age is 80 years or above. These senior citizens can file ITR-1 or ITR-4 in the paper format. Earlier, the IT department allowed individuals with income of less than Rs 5 lakh per annum with no refund and super senior citizens could file their returns in the paper format. However, this rule was changed for FY18-19.
  • View All

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CurrencyPriceChange%Change