Central Board of Direct Taxes (CBDT) has issued Notification No.31/2020 to notify the new Income Tax Return (ITR) Forms for Assessment Year 2020-21.
The description for each form are laid in the below table:
|2||ITR-2||For Individuals and HUFs not having income from profits and gains of business or profession|
|3||ITR-3||For Individuals and HUFs having income from profits and gains of business or profession|
|5||ITR-5||For persons other than-
c) Company and
d) Person filing Form ITR-7
|6||ITR-6||For Companies other than companies claiming exemption under section 11|
|7||ITR-7||For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only|
Also, a new schedule ‘Schedule DI’ has been inserted to allow claim of investments/ deposits/ payments made between 1st April, 2020 to 30th June, 2020 for the previous year 2019-20 in respect of investments for claiming deductions under Chapter VIA, deductions under Section 10 AA and Payment/Acquisition/Purchase/Construction for the purpose of claiming deduction u/s 54 to 54GB
For further information and ITR Forms please refer the attached document.