CBDT has notified the revised Income-tax Return Forms ITR-2, 3 and 5 for the AY 2024-25 and has amended Rule 12 from 01/04/2024, vide Notification 19/2024.
Who can use ITR Forms 2, 3 & 5
There is no change in the criteria for filing these forms in respect of AY 2024-25,-
a) Revised ITR-2: Individuals and HUFs not having income from business or profession and who are not eligible for filing ITR Form-1 (Sahaj) can use this form for filing their tax return for AY 2024-25.
b) Revised ITR-3: Individuals and HUFs those who are having income from business or profession can use this form for filing their tax return for AY 2024-25.
c) Revised ITR-5: Persons other than individual, HUF and companies i.e. partnership firm, LLP etc. can use this form for filing their tax return for AY 2024-25.
Amendments in Rule 12
Sub-rule (3) of Rule 12 has been amended to allow individuals and HUFs, who are liable to tax audit u/s 44AB, to verify their return of income (ITR) for Ay 2024-25 by making use of electronic verification code (EVC).
CBDT Income Tax Notification 19/2024 dated 31/01/2024: Revised Forms ITR-2, 3, 5 for AY 2024-25 Notified and Income Tax Rule 12 Amended
CBDT Income Tax Notification 22/2024 dated 21/02/2024: Corrigendum to Notification 19/2024 on Revised ITR-2, 3, 5 for AY 2024-25 and Amended Rule 12
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