India
pti-Deepika S
New Delhi, Apr 01: The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday.
”Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change has been made to the ITR Forms in comparison to the last year’s ITR Forms.
”Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made,” the Central Board of Direct Taxes (CBDT) said in a statement.
The Income Tax returns (ITR) forms ask taxpayers if they are opting for a new tax regime.
”There is no change in the manner of filing of ITR Forms as compared to last year,” the CBDT said.
The ITR-1 Form, however, specifies that it cannot be used by an individual for whom income tax is deferred on ESOPs. Also, taxpayers will now have to mention quarterly dividend income, for…