Home |Tax returns filing | What is new in the IT forms, ITR 1-Sahaj and ITR 4-Sugam for the AY 2020-2021?

What is new in the IT forms, ITR 1-Sahaj and ITR 4-Sugam for the AY 2020-2021?

Answer Notify Me - 1 Notifying - 2



Rohan Rohan
Answered on January 14,2020

The new ITR form requires taxpayer to provide details of his passport number, foreign travel if spending is more than Rs 2 lakh in a year, actual electricity consumption if annual electricity bills in aggregate exceeds Rs 1 lakh, etc. With use of artificial intelligence the tax department will be able to map the income declared by the taxpayer with lavish spending on foreign travel or electricity and on mismatch of profile will automatically select the cases for assessment. Further, due to mandatory filling of income tax return by such person, the tax base will also increase.

Clap Clap 10
Share Share Answer Share Share
Views 80 views
tesz.in
Hey , can you help?
Answer this question

    • Related Questions