CBDT Notification No. 8/2023 for ITR Forms Errors with Omissions

The Central Board of Direct Taxes ( CBDT ) by Notification No. 8/2023 on February 28, 2023, has released a Corrigendum to Notification No. 04/2023 on February 10, 2023.

In the latter announcement, the new Income-tax Return (ITR) forms that will be used for the Assessment Year (A.Y.) 2023–2024 were announced. Improving the smaller errors and omissions which were present in ITR forms would be issued by the corrigendum.

20 revisions were initiated through the method of corrections and the omission additions via corrigendum to the new Income Tax Return Forms issued earlier.

The Central Board of Direct Taxes ( CBDT ) has given Notification No. 04/2023 on February 10, 2023, that announces the updated forms for Income Tax Return (ITR) and Indian Income Tax Return Acknowledgement, for the AY 2023-24, effective from April 01, 2023.

The forms consist of ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-V, and the Indian Income Tax Return Acknowledgement. The same indeed consists of the schedules for the return forms.

On 26th March 1962, the principal rules were made vide notification S.O. 969 (E), on 26th March 1962 and last amended vide notification GSR 769(E), on 7th October 2022.

The common offline utility for filing ITR-1 and ITR-4 for Assessment Year 2022-23 has been released by the Central Board of Direct Taxes (CBDT) in April former year.

The assessee can download the ITR offline utility via the downloads Menu option and fill after that furnish the income tax return via the same. The CBDT had substituted the Excel and Java versions of ITR utilities with JSON for ITR-1 and ITR-4 the previous year.