Income Tax Department - Notifications

1. Income Tax Department has barred directors as well as those who have invested in unlisted companies from filing income tax return forms Sahaj and Sugam. The directors in both listed and unlisted companies will be required to file their returns in ITR-2 to disclose details of DIN, PAN and equity holding with the names of the companies. 2. Income Tax department has notified I-T return forms for individuals and companies for the assessment year 2019-20. While there has been no change in ITR-1 or Sahaj, which is to be filled by the salaried class, some sections in ITR 2, 3, 5, 6 and 7 have been rationalised.

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