Income Tax Return: Big update for ITR filers, Income Tax Department issued notification

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Income Tax Return: If you also file Income Tax Return (ITR File) annually, then you must read this news. ITR-2 offline form has been issued by the Income Tax Department to file income tax return for the financial year 2022-23 (AY 2023-24).

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Last month, CBDT notified ITR-1 and ITR-4 forms. Let us tell you that online ITR forms were not issued by the Income Tax Department. At present only Excel utility has been released for ITR-1, ITR-2 and ITR-4.

No significant change in ITR form

In such a situation, if a person wants to file his ITR immediately, then he will have to download the tool from the Income Tax e-filing website. After filling the utility form with information related to income and tax rebate, it has to be uploaded on the income tax e-filing platform. Let us tell you that this year no special changes have been made in the ITR form.

Information about virtual currency will also have to be given

An important change in the ITR form is that you will have to give information about virtual currency and digital asset. When you submit offline or online ITR form, keep in mind that it needs to be verified. If the ITR is not verified by the taxpayer, it will not be processed by the Income Tax Department.

Who can fill ITR-2

If your annual income is Rs 50 lakh or more then you should fill ITR-2 form. Under this, more than one residential property, capital gain or loss received on investment, dividend income of more than 10 lakhs and income from agriculture will have to be disclosed. Apart from this, if you have earned as interest from PF, then this form will also be filled.

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