ITR 1 and ITR4S Forms available for Filing Income Tax Returns now for FY 2020-21

The Income Tax Department has released copy of all Income Tax Returns forms for AY 2021-22 FY 2020-21 on 1 April 2021

On 2nd April 2021, Income Tax Department has released utilities for ITR1 and ITR4S. Taxpayers who wish to file returns can file now for Financial Year 2020-21. For last FY 2019-20 there was option to file with Download either excel or Java or JSON utility. Now its only available in JSON utility

ITR 1:For individuals being a resident (other than not ordinarily resident) having total income up to Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income up to Rs.5 thousand (Not for an individual who is either Director in 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

ITR 4: For Individuals, HUFs and Firms (other than LLP) being a Resident having Total Income upto Rs.50 lakhs and having income from Business and Profession which is computed under sections 44AD, 44ADA or 44AE
(Not for an Individual who is either Director in a company or has invested in Unlisted Equity Shares or if income-tax is deferred on ESOP))

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