Central Board of Direct Taxes (CBDT) has notified income tax return (ITR) forms for e-filing income tax returns in FY 2024-25. These are the myriad changes which the income tax department has introduced.
Here, we list out changes for different income tax e-filing forms.
ITR forms: Multiple changes rolled out this year
I. ITR- 1 (Sahaj) and 4 (Sugam)
Now taxpayers can file ITR-1 or ITR-4 even with long term capital gains under sections 112A (up to ₹1.25 lakh with no brought forward/ carry forward loss).
>> The changes are made to capture details of deductions claimed under various sections.
>> The provision under which TDS is deducted will be captured in Schedule-TDS.
II. ITR-2: The changes introduced in this tax form are as follows:
In the schedule, capital gain split for gains before and after July 23, 2024 (post changes in Finance Act, 2024).
Capital loss on share buyback is now allowed if corresponding dividend income is shown as income from other sources (post October 1, 2024).
Additionally, asset and liability reporting limit has been raised to ₹1 crore of total income and there is enhanced reporting for deductions under section 80C, 10(13A)].
III. ITR-3: The changes introduced in schedule capital gains are as follows:
>> There is rationalisation of holding period
>> There is rationalisation in rates of LTCG/STCG (long term capital gains/ short term capital gains)
>> Rationalisation of indexation.
IV. ITR-5: The changes introduced in this tax form are as follows:
>> In the schedule, Capital Gain split for gains before and after July 23, 2024 (post changes in Finance Act, 2024).
>> Capital loss on share buyback is allowed if corresponding dividend income is shown as income from other sources after Oct 1, 2024.
>> The reference of sec 44BBC (cruise biz) is added.
>> TDS section code to be reported in Schedule-TDS.
V. ITR-6: CBDT notified ITR-Form 6 on May 6, 2025
These are the key updates:
>> In the schedule, Capital Gain split for gains before and after July 23, 2024 after changes in the Finance Act, 2024.
>> Capital loss on share buyback is allowed if corresponding dividend income is shown as income from other sources (post Oct , 2024)
>> Reference of sec 44BBC (cruise biz) is added
>> Schedule BP changes (Rule 10TIA): Profits from sale of raw diamonds will be 4 percent or more of gross receipts.
>> Changes made to capture deductions claimed under section 24(b).
>> TDS section code to be reported in Schedule-TDS
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