Changes in ITR forms in AY 2014-15

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). Remember that ClearTax automatically chooses the right form for you – so you don’t have to worry about choosing which form to fill! We have all the form changes incorporated – so you don’t have to worry about your return at all! changes in ITR forms AY 2014-15 Here are 10 significant changes in ITR forms from last year and you can read through the details in the table below –

  • All refunds to be now received via ECS – no refunds via cheques
  • Space added to claim relief under section 87A – go here to know if you are eligible https://blog.cleartax.in/section-87a-rebate-of-rs-2000/
  • Space added to claim deduction under section 80EE – know about it here – https://blog.cleartax.in/section-80ee-deduction-on-interest-on-home-loan/
  • Details of Allowances or Exempt Income under section 10 under the head Income from Salary
  • Short Term and Long Term Capital Gains details to be now bifurcated between Immovable Property – Equity Shares or Mutual Funds – Bonds Debentures.
  • 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
  • Details of unclaimed TDS/TCS of past years and amount carried forward to future years
  • Transactions with Cyprus to be reported in the new forms – now subject to various compliances and reporting.
  • Reporting of Identification Numbers issued by Ministry of Corporate Affairs to Companies, Directors and LLPs
  • Furnish PAN number of Debtors for whom deduction claimed for bad debts

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Here are the changes in Detail

changes in ITR forms
changes in ITR forms

changes in ITR forms

changes in ITR forms

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