A study on significant changes incorporated in the itr-1 (sahaj) for the assessment year 2020-21 under the income tax act, 1961

In this paper, an attempt has been made to study the changes that has been incorporated in the recently notified ITR-1 (SAHAJ) for the A.Y. 2020-21 under the Income Tax Act, 1961. A detailed analysis of the amendments that has been made in the income tax laws with respect to filing of the ITR-1 for A.Y. 2020-21 and a comparative analysis between ITR-1 of A.Y. 2019-20 and 2020-21 has revealed that certain noteworthy changes have been incorporated in the ITR-1 for A.Y. 2020-21.Significant changes have been incorporated in the PART A - GENERAL INFORMATION segment and PART C - DEDUCTIONS AND TAXABLE TOTAL INCOME segment besides insertion of a new schedule “Schedule DI - Details of Investment”. The current study has revealed that the CBDT has expanded the scope of disclosure requirements in the ITR-1 which is expected to provide more transparency and reduced litigation with respect to ITRs filed.