New ITR forms decoded: Know the changes and how to file returns with ease

Aadhaar and PAN must be linked for those who are eligible for an aadhaar.

The new Income Tax Return (ITR) forms were notified recently. As per the new forms, the taxpayer will have to provide additional details such as days of residency in India, holdings in unlisted shares and details of the buyer(s) of property in case of capital gains earned by a seller on the sale of immovable property. 

Changes in ITR-1 form

ITR-1 form is applicable to resident individuals, except for the director of a company or the holders of unlisted equity shares. Total income must not exceed Rs 50 lakh. An additional row has been provided for claiming a standard