ITR 3 Form for AY 2018-19
- Blog|Income Tax|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 11 January, 2021
New ITR Forms for AY 2018-19:
Central Board of Direct Taxes (CBDT) has notified new ITR forms for the Assessment Year 2018-19 for filing the return of income of Financial Year 2017-18. Certain clauses have been added/ modified in Form ITR-3 in comparison to last year. These are: 1. Levy of late filing fees under Section 234F if return has been furnished belatedly. The late filing fees shall be as under:
Particulars |
Cases |
Amount of Late Fee |
Income up to 5 Lacs |
In all cases where the assessee is required to file return |
Rs. 1,000/- |
Income more than 5 Lacs |
If return filed on or before 31.12.2018 |
Rs.5,000/- |
In any other case |
Rs.10,000/- |
10. Assessee has to mention any taxable amount received in respect of the expense which had been claimed by him as deduction against income from other sources. 11. Report income earned from carbon credits and tax thereon. 12. Assessee not only required to mention the net impact of ICDS rather he has to report separate computation of profit and loss in schedule BP (as per Income-tax Act) and schedule ICDS and schedule OI. 13. Reporting of CGST, SGST, IGST, UGST paid by, refunded to the assessee. 14. Removal of “Gender” from the personal information. 15. Non-residents are required to furnish details of any one of their foreign bank accounts for the purpose of payment of Income-tax refund.
Provisions for furnishing return of income in Form ITR-3 for AY 2018-19:
1. E-filing of return is mandatory. 2. For the purpose of verification of return of income in Form ITR- 3, Digital Signature is not mandatory and the following options are also available for verification:
- e-verification through Aadhar OTP.
- e-verification through net banking if the bank account is linked with PAN.
- physical verification by sending the signed ITR-V through post at CPC, Bengaluru.
- e-verification through EVC generation.
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Comments are closed.