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New ITR forms: Eligibility criteria, details about e-filing


ITR filing forms for FY 2023-24

: The

Income Tax Department

has made the online tax return forms, ITR-1, ITR-2, and ITR-4, available for

FY 2023-24


AY 2024-25

) on the

income tax

e-filing portal starting April 1, 2024. This means eligible taxpayers can now file their tax returns for FY 2023-24 using these forms.
As per an ET report, earlier, the

tax department

released offline Excel utilities for ITR-1, ITR-2, and ITR-4.

Additionally, offline JSON utilities for ITR-1, ITR-2, ITR-4, and ITR-6 for FY 2023-24 (AY 2024-25) are also available now.
The deadline to file income tax returns for FY 2023-24 (AY 2024-25) is July 31, 2024.

Options for filing income tax returns

Taxpayers have the option to file their income tax return (ITR) either entirely online through the tax department’s e-filing income tax portal or through a combination of online and offline methods using JSON and Excel utilities.
Filing income tax return online
Taxpayers can log into their account on the

e-filing portal

and select the ‘File income tax return’ option. Most of the required information is automatically prefilled from their Annual Information Statement (AIS) and Form 26AS. However, it’s recommended that taxpayers cross-check this prefilled data with documents like Form 16, Form 16A, other TDS certificates, interest certificates, and salary slips to ensure accuracy.

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Using offline utilities
Taxpayers also have the option to file their ITR using offline utilities such as JSON and Excel. These utilities can be downloaded from the e-filing income tax portal and used to fill in their details. To access pre-filled data in the offline utilities, taxpayers must download a prefilled XML from their e-filing income tax account. After filling in the necessary details offline, taxpayers can upload the completed forms on the e-filing website.

Eligibility criteria for ITR-1, ITR-2, and ITR-4

Taxpayers can choose to file their tax return using ITR-1, ITR-2, or ITR-4, depending on the sources of their income for the financial year:

  • ITR-1: Taxpayers eligible to file ITR-1 include resident individuals (excluding not ordinarily residents) with income from salaries, one house property, other sources like interest, dividend, family pension, and agricultural income up to Rs 50,000. Additionally, their gross total income from all sources must not exceed Rs 50 lakh in a financial year.
  • ITR-2: Taxpayers who own more than one house property or have earned capital gains can file their tax return using ITR-2.
  • ITR-4: Taxpayers with income from business and professions taxable under sections 44AD, 44ADA, and 44AE can use ITR-4 to file their tax returns.

Early notification of ITR forms by CBDT

Unlike previous years, the Income Tax Department has notified

income tax return forms

well in advance this year, instead of April. At the beginning of the new financial year, both online and offline utilities of ITR forms have been made available by the tax department. However, many salaried taxpayers may need to wait until the end of June to gather the necessary TDS certificates before they can commence the ITR filing process.

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