Income tax return (ITR) filing is mandatory if an individual’s gross total income exceeds Rs 2.5 lakh in a financial year. If an individual is required to file tax return, then it is important to ensure that the correct ITR form is used to file a tax return. If the correct ITR form is not used, then the tax return will be termed as a defective return. Read on to know which ITR form is applicable to you.The Central Board of Direct Taxes (CBDT) notified income tax return (ITR) forms for the financial year (FY) 2021-22 (assessment year or AY 2022-23) on March 30, 2022 and has also enabled the filing option for ITR 1, ITR 2 and ITR 4 form through its website www.incometaxgov.in. CBDT has also widened the scope of individuals required to file returns, by including those individuals who meet certain specified criteria/conditions announced via a notification released on April 21, 2022. Hence, it is i ..
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https://economictimes.indiatimes.com/wealth/tax/itr-filing-which-income-tax-return-form-is-applicable-to-you-for-fy-2021-22/articleshow/91464367.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst