About 23,000 returns for the 2023–24 fiscal year have already been filed, according to the Income Tax department, which announced on Thursday that ITRs 1, 2, 4, and 6 are already accessible on the e-filing portal as of April 1, 2024.
Small and medium taxpayers receive assistance by the more straightforward ITR Forms 1 (Sahaj) and Form 4 (Sugam). Those who derive income from residential real estate can file an ITR-2.
According to a statement by the Central Board of Direct Taxes (CBDT), as of April 1, 2024, taxpayers can now file their Income Tax Returns (ITRs) for the 2024–25 Assessment Year (which is related to the Financial Year 2023–24).
“The ITRs — i.e. ITR-1, ITR-2 and ITR-4 — commonly used by taxpayers are available on the e-filing portal from April 1, 2024 onwards for taxpayers to file their returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards,” the CBDT stated.
A resident individual with an income of up to Rs 50 lakh who gets income from a job, one residential property, other sources (interest), and up to Rs 5,000 in agricultural revenue may register for sahaj.
Sugam applications can be submitted by individuals, Hindu Undivided Families, and businesses (excluding Limited Liability Partnerships (LLPs)) as long as they are residents and have revenue from both their businesses and professions totaling up to Rs 50 lakh.
“Thus, taxpayers have been enabled to file ITR-1, ITR-2, ITR-4 and ITR-6 for AY 2024-2025 on the e-filing portal from 01.04.2024. In fact, about 23,000 ITRs for AY 2024-25 have already been filed to date,” the CBDT added. ITRs 3, 5, and 7 will be soon be accessible.
