New ITR forms call for filing return even if your income isn't taxable

Joint property holders can file simplified forms. But even if your income is low, file returns if you meet one of three newly-introduced conditions

The Central Bureau of Direct Taxes (CBDT) recently notified the income tax return (ITR) forms I-VII for the assessment year 2020-21. This year’s forms contain several features that were necessitated by changes introduced in the Finance Act, 2019. The forms have also been modified to accommodate the leeway the government has granted taxpayers in the wake of the lockdown.

ITR I and IV were released in January also. At that point, a restriction was imposed. People who own a single-house property, but in joint name, were not allowed to use these two simplified forms. Now that restriction has been removed. If