“Income Tax Changes” – Announced by CBDT:*

“Income Tax Changes” – Announced by CBDT:*

“Income Tax Changes” – Announced by CBDT:*

*. Income Tax New disclosures asked in the new ITR forms 1to7 are:
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1. House ownership: Individual taxpayers who are joint owners of house property cannot file ITR 1 or ITR4.*
*2. Passport: One needs to disclose the Passport number if held by the taxpayer. This is to be furnished both in ITR 1-Sahaj and ITR 4-Sugam. Hopefully, it will be made mandatory in other ITR Forms as and when they are notified.*
*3. Cash deposit: For those filing ITR 4-Sugam, it has been made compulsory to declare the amount deposited as cash in a bank account, if such amount exceeds Rs 1 crore during the FY.*
*4. Foreign travel: If you have spent more than Rs 2 lakh on travelling abroad during the FY, you need to disclose the actual amount spent.*
*5. Electricity consumption: If your electricity bills have been more than Rs 1 lakh in aggregate during the FY, you need to disclose the actual amount.*
*6. Investment details:

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