These forms can be downloaded from the Income Tax department website. For a clear understanding, in the ITR-1 form, “income from other sources head” has added “source” from where the taxpayer has received the interest income or any other income during that period of time. Complete break-up of the interest income along with any other income gained by an individual has to be shared. This covers those who have received employee stock options (ESOPs) in unlisted companies, even includes those listed outside India. Therefore, you are required to disclose all the details of your investments in form ITR-2 for the assessment year 2019-20. Besides, as per the latest forms, if any individuals are holding directorships in unlisted companies shall not be eligible to file the Sahaj ITR-1. You will need to provide complete details including the name of the company, PAN of the company, number and cost of purchase at the start of the year, number of shares, face value, issue price among others. Likewise, a taxpayer needs to furnish details of shares in an unlisted company in the ITR-2. While sharing property details in the ITR-1, you need to specify whether the property is - 'Self Occupied', 'Let-out' or 'Deemed Let-out.' Last year’s ITR-1 did not have 'Deemed Let-out' specification.

Likewise, for individuals with two house properties on rent need to report the same amount in the ITR-2. For people with one house property on rent, the rent amount needs to be mentioned in the ITR-1. Another change in the form says, if you have any rent arrears in FY 2018-19, you will need to share these details property wise, as received while filing ITR-1 or ITR-2 as applicable. Irrespective of whether it’s a short-term capital gain that one has received or long-term, the taxpayer should include all the buyer details. Under this regulation, if a taxpayer has sold the property during FY 2018-19, the person needs to share complete details of the buyer who has bought the property.

Itr sahaj form download