New ITR form seeks salary break-up, more disclosures from taxpayers

Require taxpayers to report granular details of each transaction

The new Income Tax Return (ITR) forms released for the assessment year 2018-19 seek more details from taxpayers than they did in the previous years. Overall, there are over 25 key changes compared to last year across all the forms meant for individuals, businesses and other assessees.

Most of these changes require taxpayers to give the break-up of information provided or other details that help the income tax department to reconcile the transactions that taxpayers report. “It is apparent that the new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or