Taxmann Review Bulletin | Income Tax Return Forms - Analysis | April 2021

Master Guide To Income Tax Act 2021 Author

: Pradeep S. Shah , Rajesh S. Kadakia

Edition

: 31st Edition

ISBN No

: 9789390831128

Date of Publication : April 2021 Weight (Kgs)

: 2.1

No. of papers

: 1972

Rs. 2295 | USD 76

Description Taxmann’s Master Guide to Income Tax Act, is a unique book that provides the following:  Section-wise commentary on the Finance Act 2021  Ready-referencer for all-important procedural aspects of the Income-tax Act.  Section-wise Digest of landmark rulings  Section-wise gist of all circulars and notifications which are still in force The Present Publication is the 31st Edition, amended by the Finance Act 2021 & the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020.

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Taxmann Review Bulletin | Income Tax Return Forms - Analysis | April 2021

Published on Apr 11, 2021

Taxmann

The Central Board of Direct Taxes (CBDT) has notified Income Tax Return (ITR) Forms for the Assessment Year 2021-22 vide Notification No. 21/2021, dated 31-03-2021. Considering the crisis due to the COVID pandemic, the board has not changed the ITR forms significantly. Most of the new ITR forms changes are consequential to the amendments made by the Finance Act, 2020 to the Income-tax Act. Further, the ITR-1 shall not be available to a taxpayer in whose case the tax has been deducted on cash withdrawal under Section 194N. Further, return filing is also not allowed in ITR-1 or ITR-4 if the tax has been deferred in respect of ESOPs allotted by an eligible start-up. We have scrutinized the new ITR Forms and have identified the key changes in new ITR forms viz-a-viz last year's ITR Forms. These changes have been explained below.