Archive · 30 Jun 2025
ITR-1/4 Changes: Detailed Tax Deduction Disclosures Required
The government has updated tax forms ITR-1 and ITR-4.
If you're using them, you now need to give lots of details for any tax breaks you're claiming.
For example, you have to give policy numbers, bank names, and loan details.
Linking your Aadhaar to your PAN is also compulsory now.
If your long-term capital gains are less than a certain amount, you only need to use one specific form.
Keep all your paperwork ready and file early to avoid website issues.
These changes aim to make taxes more honest.
Income Tax Department implements new changes to ITR-1 and ITR-4 forms.
Taxpayers must provide detailed information for claimed deductions like 80C, 80D, and HRA.
Aadhaar verification is now mandatory for obtaining a new PAN card.
Long-term capital gains below Rs 1.25 lakh can be filed in ITR-1 only.
Form 10-IEA is mandatory for those in the old tax regime with business/profession income.
- Who
- Taxpayers filing ITR-1 and ITR-4, especially those claiming deductions.
- What
- Changes to ITR-1 and ITR-4 forms requiring detailed deduction information.
- When
- As tax season approaches.
- Where
- India.
- Why
- To make the tax system more transparent and prevent incorrect filings.
- Relevant Forms
- ITR-1 and ITR-4
- Mandatory Detail
- Supporting documents for deductions
- Aadhaar Requirement
- Aadhaar verification for PAN card
- LTCG Threshold for ITR-1
- Less than Rs 1.25 lakh
- Mandatory Form (Old Tax Regime)
- Form 10-IEA for business/profession income
