Key Change in Income Tax Form for Financial Year 2019-20

list of the 5 key changes, including the one mentioned above, introduced in the ITR1 for the financial year 2019-20.

• Passport details

In this year's ITR-1, taxpayers will have to provide their passport number (if they have one). This is a new addition.

Last year in July 2019 Budget, it was announced that those who have incurred expenses of Rs 2 lakh or more for foreign travel either on himself or any other person, will have to mandatorily file ITR.

• TAN of your employer

This year's ITR-1 asks for detailed information of your employer. Until last year, a taxpayer simply had to select the nature of employment, i.e., Government, PSU, Pensioners, Others from a drop-down menu in case of ITR 1.

From this year, those filing ITR1 will have to provide the Tax Deduction Account Number (TAN) of the employer, mandatory if tax is deducted. Other details required are name, nature, address of the employer.

According to the notified form, these details will be pre-filled automatically, once TAN of the employer is filled by the taxpayer in ITR-1. You can find the employer's TAN details in your Form-16.

It is mandatory for your employer to give you Form-16 if tax is deducted.

• PAN or Aadhaar details of your tenant

If you have rented out a property, then you will have to provide name and Aadhaar or PAN details of your tenant, if available.

 "It is yet to be seen whether ITR-1 form utility will allow the taxpayers to file the tax return without providing tenant details in case of let-out of property. The field has been introduced and it appears that it will be mandatory in new ITR-1 and ITR-4."

• Complete address of your house
You will now have to provide the complete address of your house property in ITR-1.

Wadhwa says, "It is now mandatory that you have to provide the complete address of your house irrespective of whether it is - self-occupied, deemed to let-out or let-out. Earlier, these details were asked only in ITR-2 and ITR-3."

Provide details of unrealised rent

If during FY 2019-20, you have not received the rent which was due to you, then such details are also required to be provided.

Wadhwa says, "Taxpayer eligible to file ITR-1 is required to provide the rent which was due but not received in FY 2019-20. Such information was earlier asked only in ITR-2 and ITR-3."