16/07/2014
With the Tax Filing season Getting hot
with Each Passing day – we bring to
you a snapshot of changes in the ITR
forms between the last assessment
year (2013-14) and the current
assessment year (2014-15).
Here are 10 significant changes in ITR
forms from last year-
1) All refunds to be now received
via ECS – no refunds via cheques
2) Space added to claim relief under
section 87A
3) Space added to claim deduction
under section 80EE
4) Details of Allowances or Exempt
Income under section 10 under
the head Income from Salary
5) Short Term and Long Term
Capital Gains details to be now
bifurcated between Immovable
Property – Equity Shares or
Mutual Funds – Bonds
Debentures.
6) Detailed information about
capital gains exemption claimed
– providing details of cost of new
house purchased, date of
purchase or amount deposited in
capital gains savings account
scheme
7) Details of unclaimed TDS/TCS of
past years and amount carried
forward to future years
8) Transactions with Cyprus to be
reported in the new forms – now
subject to various compliances
and reporting.
9) Reporting of Identification
Numbers issued by Ministry of
Corporate Affairs to Companies,
Directors and LLPs
10) Furnish PAN number of Debtors
for whom deduction claimed for
bad debts
For Any Doubt And Query Feel Free To call Us At 9266227760
