One Nation, One ITR Form

On 2nd November, 2022, the Central Board of Direct Taxes (CBDT), under the Finance Ministry, released a draft common ITR form on income tax return (ITR) form for all taxpayers.

Kinds of ITR Forms

There are seven kinds of ITR forms, which are used by different categories of taxpayers. They are as follows:

  1. ITR Form 1, called ‘Sahaj’, is for small and medium taxpayers. Sahaj forms can be filed by individuals who have an income up to Rs 50 lakh, with earnings from salary, one house property/ other sources (interest etc.).
  2. ITR-2 is filed by people with income from residential ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Buy December 2022 Issue

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Related Content

Public Policy