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New ITR Forms for F.Y. 2020-21 (A.Y. 2021-22)

The New Financial Year started off with the Income Tax Department releasing the New Income Tax Return Forms for the FY 2020-21 i.e. Assessment Year 2021-22.

A taxpayer uses Income Tax Return forms to report their annual income to the Income Tax Department.

The ITR Forms for FY 2020-21 (AY 2021-22) are not that different from the last years.

What Changed in the New ITR Form for F.Y. 2020-21 (A.Y. 2021-22)?

Changes Applicable to all ITR Forms for FY 2020-21 (AY 2021-22)

What are the types of ITR forms?

ITR 1 (Sahaj)

It is the simplest income tax return form. ITR 1 can be filed by:

  • Indian Resident (check your Residential status as per Income Tax)
  • Salaried Individuals
  • Individuals earning income from 1 house property (eg: Rent) 
  • Individuals earning income from other sources like savings account interest, Fixed Deposit interest, etc. 
  • Income is upto INR 50 lakh for the financial year
Download ITR 1 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 1 form for FY 2020-21 (AY 2021-22)
Download
Download ITR 1 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 1 form for FY 2020-21 (AY 2021-22)
Download

ITR 2

Individuals or HUFs who do not have any business and professional income can file ITR-2. Usually filed by taxpayers with Income from Capital Gains or those with the residential status as NRIs.

Download ITR 2 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 2 form for FY 2020-21 (AY 2021-22)
Download
Download ITR 2 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 2 form for FY 2020-21 (AY 2021-22)
Download

ITR-3

ITR 3 is filed by Individuals and HUFs having income from the business & profession and in case tax audit is applicable.

Download ITR 3 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 3 form for FY 2020-21 (AY 2021-22)
Download
Download ITR 3 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 3 form for FY 2020-21 (AY 2021-22)
Download
Check Tax Audit Applicability u/s 44AB
Check Income Tax Audit applicability u/s 44AB to file Tax Audit Report Form 3CB - 3CD with your Income Tax Return.
Explore
>
Check Tax Audit Applicability u/s 44AB
Check Income Tax Audit applicability u/s 44AB to file Tax Audit Report Form 3CB - 3CD with your Income Tax Return.
Explore

ITR 4 (Sugam)

Taxpayers who have opted for the presumptive taxation scheme can file for ITR 4, including:

Download ITR 4 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 4 form for FY 2020-21 (AY 2021-22)
Download
Download ITR 4 Form for FY 2020-21 (AY 2021-22)
View and Download Updated ITR 4 form for FY 2020-21 (AY 2021-22)
Download
Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
Explore
Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
Explore

The PDFs for the New ITR Forms for F.Y. 2020-21 (AY 2021-22) have been released, ITD usually releases schemas/utilities few days/weeks after launching forms.

Stay tuned!

Got questions around the New ITR Forms for FY 2020-21 (AY 2021-22)? Shoot’em on TaxQ&A and we’ll answer them all in the simplest way!

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Got Questions? Ask Away!

  1. Hey @TeamQuicko

    Thanks for the blog! Just one quick question - Why do we have to report a quarterly breakdown of Dividend Income under IFOS?

    Thank you!

  2. I had received dividend recently but I had noticed that TDS had been deducted. any idea as to why has it happened and is there a way I can claim this TDS?

  3. Hi @TeamQuicko

    Consider that I have 10 shares each of 10 different Indian companies. Each of the 10 companies are declaring a dividend of INR 100 before the FY ends. Now I will be recieving 1000 as dividend from each company, thereby a total of 10,000.

    The 5,000 dividend limit, is it applicable to each company / total dividend recieved by me in a year. If it is applicable to each company, then I would not attract TDS of 10% for dividend.

    Also pl clarify, how would the company B know that I have got shares of Company A,C,D,E so on…

  4. Hey @TeamQuicko

    I tried to file ITR-3 via Quicko’s integration with Zerodha. While filing the ITR, I got an option to switch to the New Tax regime to save additional taxes.
    Since I had some turnover from intraday and FnO (speculative/ business), am I eligible to switch to the new regime through Quicko while filing?
    How do I fill the Form 10-IE? If I haven’t filled the form, would the portal preent me from filing returns altogether?
    Also, once I get rebate (if opted for new regime) / pay dues (if opted for old regime), do I need to go through the hassles of replicating it on the new ITR portal (i.e manually answering the schedule sections)?

    Kind regards

  5. Avatar for Nireka Nireka says:

    Hi @ChinmayB,

    Yes, you can opt for the new tax regime. However, keep in mind in case a taxpayer has business income and they opt for the new tax regime, they can switch to the old tax regime only once.

    If you opt for the new tax regime, you need to file Form 10-IE before filing the ITR

    Here’s how you can file the Form 10-IE

    When filing your ITR through Quicko, you do not need to enter details on the new ITR portal, since Quicko is a ERI (e-return intermediary) registered with the Income Tax Department.

    Note: ITR filing will be enabled on Quicko in the coming week. So stay tuned for more exciting features!

Continue the conversation on TaxQ&A

16 more replies

Participants

Comments

Soumen says: (Awaiting Approval)

2021-08-29 15:00:26

Could you please let us know when you guys enable ITR filing from Quicko?

Reply

himanshu says: (Awaiting Approval)

2021-08-20 10:22:18

when is the tax filing going to start. Is there a possibility that govt will not allow e-RI this year because they are even struggling with their own ITR site. Please inform all the folks clearly on updates so that we dont waste time on multiple e-RI sites and rather try filing through the governments site.Stop fooling people please. After filling all the data only u guys say we r not going ahead now. this is a poor joke.

Reply

Abhishek Singh says: (Awaiting Approval)

2021-08-09 04:54:55

Hey Team, this year why we are not able to report losses in F&O transaction where books of account is not maintained. Kindly help how to proceed

Reply

Nitesh Sinha says: (Awaiting Approval)

2021-07-15 13:29:24

My only income is profit from share trading mostly through delivery or sometimes through intra day. Last year FY 20-21 income was approx. 5 lacs. Which ITR form is applicable in this case.

Reply

Kumar says: (Awaiting Approval)

2021-07-14 17:44:26

Hey Quicko, Can you provide CA for Tax audit service under section 44ab? Please provide a link/detail on how to avail this.

Reply

SK says: (Awaiting Approval)

2021-07-09 01:43:59

ITR Form 3, at one place it says schema available however, on top of the page, it says scheme awaited from Income Tax Department. Is there an i

Reply

Sarfaraz says: (Awaiting Approval)

2021-06-29 04:49:05

ITR Form 3, at one place it says schema available however, on top of the page, it says scheme awaited from Income Tax Department. Is there an issue with website update? Please help me to understand the realistic timelines.

Reply

akash patel says: (Awaiting Approval)

2021-06-05 14:24:15

Reply

akash patel says: (Awaiting Approval)

2021-06-05 14:24:14

When do we start filing tax for yr 2020-21 from Quico? When I goto tax filing tab it says we will start e-filing soon.

Reply

Namdev R Gawde says:

2021-04-12 12:33:14

What documents is required to obtain PAN of HUF and what r the benefit of HUF formation

Reply

Nireka Dalwadi says:

2021-04-13 11:23:42

Hey Namdev, you can refer to this article where we talk about the Tax benefits of forming a HUF. Read more about documents required to apply for HUF PAN card and Team Quicko can help you apply for the PAN for your HUF

Reply

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