New ITR-1, ITR-2 Notified

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Tuesday, April 7, 2009
This article is posted in Income Tax category and has 7 Comments so far.

itr-1

Update : Check this GConnect’s online ITR generating tool

Income tax deparment has recently notified New Income Tax returns Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Form ITR 8, and ITR V for the year 2008-09 (Assessment year 2009-10) vide Notification No: 32/2009 dated 27-03-09.

Salaried class including central government employees will be required to file Form ITR-1 or Form ITR-2 based on Form-16 issued by their respective Pay Drawal and Disbursal authorities (DDO). Individuals having income from salary / pension / family pension and Interest will be required to file Form ITR-1. Similarly, individuals and HUF not having income from Business or profession will be required to Form -ITR-2.

Put it simply, those who have income only from salary / pension / family pension and Interest will be required to file Form ITR-1. On the other hand those who in addition to their salary / pension income, have to declare income / loss from house property or short / long term capital gains due to income / loss from Mutual funds, shares etc., will be required to file Form ITR-2 with the income tax department.

Last date to file Income tax return for Non tax audit cases is 31.07.2009 and for tax audit case 30.09.2009 for the assessment year 2009-10.

Download empty ITR-1 form

Download empty ITR-2 form

As you are aware, GConnect provides an online software for generating Income Tax work sheet and Income tax Statement for the year 2008-09 (assessment year 2009-10) to filed with their respective employers for getting Form-16.

Now, GConnect is to come up with an online provision soon to generate ITR-1 and ITR-2 given your income and deductions. Watch out !

Check

Income-tax (9th Amendment) Rules, 2009

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION NO. 32/2009 Dated: March 27, 2009

In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:

(1) These rules may be called the Income-tax (9th Amendment) Rules, 2009.

(2) They shall come into force on the 1st day of April, 2009.

2. In the Income-tax Rules, 1962,

(a) in rule 12,

(i) in sub-rule (1), for the words, figures and letters “on the 1st day of April, 2008″, the words, figures and letters “on the 1st day of April, 2009″ shall be substituted;

(ii) in sub-rule (5), for the words, figures and letters “on the 1st day of April, 2007″, the words, figures and letters “on the1st day of April, 2008″ shall be substituted;

(b) in Appendix- II, for Form ITR 1, Form ITR 2, Form ITR 3, From ITR 4, Form ITR 5, Form ITR 6, Form ITR 7, Form ITR 8, and ITR V, the following forms shall be substituted.


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7 Responses to “New ITR-1, ITR-2 Notified”

  1. S.Balasubramanian said on Tuesday, April 7, 2009, 23:37

    I am happy to note that IT Dept. has acted quickly by notifying the new forms for AY 2009-10, after I had sent an email to them.
    I had hoped that ITR2 will be simplified for those who have salary/pension, interst, dividends from mutual funds, and no other income, since otherwise, the assessees will have to fill up so many pages with “Not applicable”, which is avoidable and which at least the senior citizens and aged pensioners could have been relieved from.

    S.Balasubramanian

    Reply

  2. A. Kannathasan said on Thursday, April 16, 2009, 22:39

    Well done Balasubramanian. The ITR forms are quite useful. Thanks.
    A. Kannathasan.

    Reply

  3. S.Krishnamoorthy said on Saturday, April 25, 2009, 15:10

    I downloaded form ITR1 and find that a new item has been added to be furnished in addition to TAN viz.UTN(Unique Transaction No.).My deductors have furnished me Form16/16A without the UTN,as they are unaware about this No.Even NSDL have informed me that they have to study the details in this regard.IT Dept. should have have tied up all ends before introducing something new

    Reply

  4. SRIDHAR said on Tuesday, May 5, 2009, 10:53

    The ITR forms are very useful. But i want to putforth a small suggestion. Taking printout of the blank form and filling it in pen leads to some problem. Why don’t you make the form more simplified i.e. just filling the columns in website itself just like the income tax calculation memo. I expect this is a small thing for the gconnect team. Kindly do the same.

    Reply

  5. peshwe said on Tuesday, July 7, 2009, 16:19

    I get family pension and am a salaried person. I have a Housing Loan in SBI and the loan was in both our names. since my husband expired in Oct,07 now the loan account is only in my name. Kindly clarify if there is a provision if i should file my income tax individualy or should i take the pension + the salary for filing income tax. thankyou

    Reply

  6. S. Ghodke said on Thursday, July 16, 2009, 22:59

    Is there any other form with ITR1 for furnishing information about Housing Loan repayments? Also how can we get acknowledgment for filing the return? please inform. thank you.

    Reply

  7. muralimohana said on Monday, August 10, 2009, 15:54

    i would like to know that what is a family pension means according to income tax.
    Please send me the answer to my mail

    Reply

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