CBDT issued ITR-2 and ITR-3 forms, who have to fill these forms
The Central Board of Direct Taxes (CBDT) has issued new forms for income tax returns. For this, CBDT has also issued a notification in the e-Gazette. ITR-2 form will have to be filled by those people who have received capital gains income and could not fill ITR-1 form. Apart from this, ITR-3 form will have to be filled by those who have income from business or profession. The last date for filling both these forms has been fixed as July 31, 2024. If the taxpayer has to undergo income tax audit and has earned income from business, then the last date for filing ITR will be october 31, 2024.
ITR Form-2 will be for these people
According to the Income Tax Department website, individuals or Hindu Undivided Families (HUF) who have not filed ITR-1 form will have to file ITR-2. Individuals or HUFs who do not have income from profits and gains of business or profession. Also, they should have received any benefit and income from any partnership firm in the name of interest, salary, bonus or commission. Also, if the income of any other person like spouse, minor child etc. is added with their income, then such people will have to fill ITR-2.
Some new rules have been added
According to the new rules, details of Legal Entity Identifier (LEI) will have to be given to fill ITR-2 form. LEI is a 20 digit unique code. It can identify you in the global financial system. Besides, complete details of donations given to any political party and details of expenditure incurred on medical treatment of a disabled person will also have to be shown in the audit. After this, the individual or HUF can also verify the ITR with EVC to get the tax audit done.