ITR filing Alert! Income Tax Return Forms 1 to 7 for AY 2021-22 notified


For the income earned during the financial year 2020-21, the assessment year is 2021-22.

The ITR forms for filing income tax returns (ITR) for the assessment year 2021-22 has been notified by the government. CBDT has notified all ITR Forms 1 to 7 for AY 2021-22 as per the Notification No. 21/2021 in G.S.R 242(E) dated March 31, 2021. To facilitate taxpayers and to minimize the compliance burden, no significant changes have been made in the ITR Forms this year as compared to last year’s Forms.

For the income earned during the financial year 2020-21, the assessment year is 2021-22. For the income that one earns from April 1, 2020 to March 31, 2021, the filing of ITR has to happen in the assessment year 2021-2022, the last date of which is generally July 31 of the relevant assessment year unless extended by the government.

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Who can file ITR 1 Sahaj

The ITR 1-Sahaj is for individuals being a resident (other than not ordinarily resident) having a total income up to Rs 50 lakh, having Income from Salaries, one house property (single ownership), interest income, family pension income etc. and agricultural income up to Rs 5,000.

Who cannot file ITR1 Sahaj

It is not for an individual who is either Director in a company or has invested in unlisted equity shares or has any brought forward / carry forward loss under the head ‘Income from House Property’ or has to furnish return under 7th provision to section 139(1) of the Income Tax Act.

Who can file ITR 4-Sugam

ITR 4-Sugam is for Individuals, HUFs and Firms (other than LLP) being a resident having total income up to Rs.50 lakh, one house property (single ownership), having income from business and profession which is computed under sections 44AD, 44ADA or 44AE or Interest Income, Family pension etc. and agricultural income up to Rs.5,000.

Who cannot file ITR 4-Sugam

It is not for an individual who is either Director in a company or has invested in unlisted equity shares or has any brought forward / carry forward loss under the head ‘Income from House Property’.

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