SIGNIFICANT CHANGES IN THE ITR FORM

As the financial year 2024-25 has now ended, the work for income tax filings for the Financial year 2024-25 will soon begin. The CBDT has recently notified the Income tax return forms, thereby signaling the start of the tax filing season.

- By CA Gaurav Kenkre

Some of the important changes in the ITR forms are listed as below, so that taxpayers can work on reporting such data accurately

CA Gaurav Kenkre is a CA in practice for the last 11 years. He is a regular speaker at various professional organizations, trade bodies, MNCs and Government bodies. He also writes regularly in local as well as national publications. Besides this he holds various positions in bodies such as ICAI, GCCI, College bodies, Rotary etc.

As the financial year 2024-25 has now ended, the work for income tax filings for the Financial year 2024-25 will soon begin. The CBDT has recently notified the Income tax return forms, thereby signaling the start of the tax filing season. Some of the important changes in the ITR forms are listed as below, so that taxpayers can work on reporting such data accurately 1. Aadhar enrollment number no longer accepted, Aadhar number mandatory The Finance (No. 2) Act, 2024 has amended Section 139AA of the Income-tax Act ("ITA"), effective from 01-10-2024, to restrict the use of the Aadhaar Enrolment ID in place of the Aadhaar number for PAN applications and filing of Income tax Returns.