What is Common ITR Form? Know every important information related to this form

Photo: CANVA Did you know these things related to common ITR form, know here

Common ITR Form: Income tax return filing is very complicated for the income tax payers, which they consider as a troublesome task. On the other hand, the biggest problem faced by an income tax payer is when he has to choose the right ITR form for filing ITR. Explain that at present there are 7 different forms for filing ITR, out of which the taxpayer has to choose one form. At the same time, in view of this problem of taxpayers, the Central Board of Direct Taxes (CBDT) has proposed a common ITR form, which means the same ITR form for all. Today we are going to give you important information about this common ITR form.

What is Common ITR Form

Explain that after the introduction of common ITR form, taxpayers will get only one form to fill ITR. Explain that after its arrival, when income taxpayers login to fill their ITR, they will see only one ITR form. Which we will know by the name of Common ITR Form. At the same time, a feature called wizard will be given in this form, where yes or no answers will be taken from the taxpayers in the beginning itself.

These options will also be available

ITR-1, ITR-4, 7 will continue to exist even after the common ITR form, while the common ITR form will come as an alternative for the time being. On the other hand, taxpayers will be given an option to select the existing form or the proposed common ITR form for filing ITR. Along with this, after the introduction of common ITR form, ITR-2, 3, 5 and 6 will be abolished.

This will benefit the taxpayers

On the other hand, after the introduction of the common ITR form, return filing will be easier, along with this the time of the taxpayers will also be saved. On the other hand, no option has been added for the taxpayers in the common ITR form, which is of no use to them, this will make it easier for them to fill the form, as well as save more time.

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