Income Tax Return: In Budget 2023, Finance Minister Nirmala Sitharaman had made several announcements. In these announcements, the Finance Minister had also made a very important announcement regarding income tax.
Finance Minister Nirmala Sitharaman had announced that in the new tax regime, tax will not be charged on annual income up to Rs 7 lakh. At the same time, now the ITR form has also been updated for the income tax return for the financial year 2022-23, in which some changes have also been made.
Income Tax Return
This time the Income Tax Department has notified Income Tax Return Form (ITR 1-6) and Income Tax Verification Form (ITR V) for the assessment year 2023-24. These forms will be used for filing return of income made in the financial year 2022-23. The last date for filing ITR for the assessment year 2023-24 is 31 July.
ITR Forms
Compared to previous years, the Income Tax Department has notified ITR forms ahead of time. At the same time, some changes have also been made in the ITR form, about which it becomes very important to know. Let us know what changes have been made in the ITR form this time.