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The Central Board of Direct Taxes (CBDT) has notified five new income tax return forms.
The five new ITR forms are Form ITR-3, Form ITR-4, Form ITR-5, Form ITR-6 and Form ITR-7.
For all these forms, it is now mandatory to furnish details of all bank accounts (dormant accounts are excluded).
Detailed information has been sought on foreign accounts.
ITR-3 is for individuals and HUFs who are partners in firms and not carrying out business or profession under any proprietorship.
Form ITR 4 is for individuals and HUFs having income from proprietary business or profession.
Form ITR-6 is for companies other than those claiming exemption under Section 11.
The new requirements also provide that Aadhaar information has to be given for ITR 3 and ITR 4.
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