 "Officials say the department is facing issues in implementation of faceless scrutiny and this could hit tax revenue collections")
The Income Tax Department on Sunday notified two income-tax returns for assessment year 2020-21 three months in advance, bringing more individuals into the mandatory return filing net.
The department notified ITR 1-Sahaj and ITR 4-Sugam in January against the usual practice of notifying returns in April, with disclosure requirements related to cash deposits, spending on foreign travel, and electricity.
ITR 1-Sahaj is for individuals having an annual income of up to Rs 5 million from salaries, a house, interest income, family pension income, etc. The form will require passport details.
ITR 4-Sugam is for individuals who have an annual income
