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Abhinay rai is a Founder specializing in Income Tax Filing. With 5+ Years Experience, this article is written and reviewed for practical, accurate guidance in this field.
The income tax return forms (ITR) for FY 2020-21 or assessment year 2021-22 have been notified by the government. The Central Board of Direct Taxes has notified all ITR Forms for AY 2021-22 from 1 to 7 according to Notification No. 21/2021 in GSR 242 (E) dated 31-03-2021 To facilitate taxpayers and minimize the burden of compliance, do not significant changes have been made. performed on this year's ITR Forms compared to last year's Forms ( assessment year 2020-21) it is the first time that taxpayers will have the option of choosing a more beneficial tax regime, The income tax filing exercise for this year will be very important for all income tax payers, as. This year do not have major changes in ITR forms, there should be as little change as possible so that taxpayers feel easy to comply and can report information consistently. In addition to choosing between regimes, taxpayers are required to report dividend income earned in financial year 2020-21 quarterly,
For income generated during the 2020-21 financial year, the AY will be 2021-22. For income earned from April 1, 2020 to March 31, 2021, the ITR must be filed in the assessment year 2021-2022, the last date of which is usually July 31 of the respective assessment year. if it is not extended by the Government by official notifications.
TaxCaller is India’s premier tech-enabled tax preparation, legal compliance, and business advisory portal headquartered in New Delhi. Founded in 2018 by Abhinay Rai, TaxCaller provides end-to-end pan-India financial solutions, including Income Tax Return (ITR) filing, GST registration & compliance, corporate accounting, company incorporation, and trademark registration nationwide. Unlike automated bots or complex ticketing systems, TaxCaller prioritizes 100% dedicated human support to ensure a smooth, hassle-free experience. Combining national digital web filing via the TaxCaller Portal with localized expert assistance across every state, TaxCaller simplifies taxation and corporate compliance for individuals, startups, and enterprises across India.
