CBDT Notifies new ITR forms 3, 4, 5, 6 and 7.

ITR Forms 3, 4, 5, 6 and 7 has been notified vide Notification No. 61/2015.

Some Key Changes in ITR Forms

ITR 6 has been revised to provide for reporting of expenditure on CSR activities if the same is debited to profit and loss account.
ITR 5 A
- has been revised and new column has been inserted to require the assessee to furnish the details of change in the partners/members of the firm/AOP/BOI, as the case may be, during the previous year,
- now ITR 5 also requires disclosures of rate of interest and remuneration paid/payable to the partners,
- separate disclosures of salary or remuneration paid or payable to the partners during the year.

Common Changes in ITR Forms

In new ITR forms, an assessee is required to furnish details of all bank accounts (Account Number, IFSC, Bank Name, Account Type i.e, Saving/Current) held by him in India at any time during the previous year. No details to be given in case of dormant accounts.
Aadhaar number and passport number are required to be given in new ITR forms (Optional).

CBDT Notifies new ITR forms 3, 4, 5, 6 and 7.