New ITR forms need income disclosure from foreign retirement a/cs

Experts said there aren't too many changes in the forms this year. "The forms have been largely kept unchanged," said Rohit Arora, advocate, Uttarakhand High Court.

The Central Board of Direct Taxes (CBDT) has notified the income tax return(ITR)forms for FY 2021-22 (Assessment Year 2022-23). 

Experts said the early notification of ITR forms is a positive step. “The best thing that has happened is they have come out with the ITR forms on April 1,” says Harsh Roongta, who heads FeeOnly Investment Advisors LLP, a Sebi-registered investment advisor. 

Deepak Jain, chief executive, TaxManager.in, a tax efiling and compliance management portal, said, “As these forms are quite elaborate, their early notification will give assessees more time to get the documentation and paperwork ready, and hence make complete disclosures while