CBDT Notifies ITR Forms For Assessment Year 2023-24

The Central Board of Direct Taxes (CBDT) has notified the ITR forms for the assessment year 2023–24.

The Board has notified the Income-tax (First Amendment) Rules, 2023, which shall come into force with effect from April 1, 2023.

The Board has notified the Indian Income Tax Return (ITR) Forms, namely ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, and ITR-V, and the Indian Income Tax Return Acknowledgement for the Assessment Year 2023–24.

The ITR-1 SAHAJ is for individuals who are residents (other than not ordinarily residents) and have a total income of up to Rs. 50 lakh, including income from salaries, one house property, other sources (interest, etc.), and agricultural income up to Rs. 5 thousand. It is not for an individual who is either a director of a company or has invested in unlisted equity shares, or in cases where TDS has been deducted u/s 194N or if income tax is deferred on ESOP.

The ITR-2 is for individuals and HUFs that do not have income from business or professional profits and gains.

ITR-3 is applicable to resident individuals and Hindu undivided families (HUFs).

SUGAM ITR-4 is for individuals, HUFs, and firms (other than LLPs) that are residents of India and have a total income of up to Rs. 50 lakh and have income from business or profession that is computed under Sections 44AD, 44ADA, or 44AE. It is not for an individual who is either a director of a company or has invested in unlisted equity shares if income tax is deferred on an ESOP or who has agricultural income greater than Rs. 5,000.

ITR-5 is for persons other than individuals, HUFs, companies, and persons filing Form ITR-7.

ITR-6 is for companies other than those claiming exemption under Section 11.

Notification No. 04/2023

Date: February 10, 2023

Click Here To Read The Notification