FAQs on Income-tax Returns for Assessment Year 2020-21

The Central Board of Direct Taxes (CBDT) has notified 7 Income-tax Return (ITR) Forms. These ITR Forms will be applicable for the Income-tax return to be filed in respect of Assessment Year 2020-21. This publication contains 74 important FAQs to assist the taxpayers and tax professionals to file the accurate return of income.



Some of the key FAQs are as under:


• Classification of ITR forms based on Income and assessee;


• FAQ on how to exercise the option for lower tax regime under section 115BAA and 115BAB;


• FAQ on how to determine the residential status if assessee couldn’t travel due to Covid-19;


• FAQ on exemptions and deductions to be available for the expenses or investments made during the extended period;


• FAQ on TDS Mismatch;


• FAQ on the taxability of income of a deceased assessee;


• FAQ on Aadhaar and PAN linking.