Analysis of new ITR Forms notified for the Assessment Year 2020-21

The CBDT has notified new ITR forms for the Assessment Year 2020-21. New ITR forms have introduced new additional columns and schedules. These changes have been introduced to capture new, yet essential information. Some changes are consequential to the amendments made to the Income-tax Act by the recent Finance Acts. We have done a thorough analysis of the new ITR Forms and have explained all changes in this article