Income Tax: CBDT has issued corrigendum to new ITR-2, ITR-3 and ITR-5 to correct minor mistakes.
The Central Board of Direct Taxes (CBDT) recently released a corrigendum, marked as Notification No. 22/2024 dated February 21, 2024, amending Notification No. 19/2024 dated January 31, 2024. This corrigendum serves to provide clarity and notify six specific changes and aspects concerning the Income Tax Return (ITR) Forms, namely ITR-2, ITR-3, and ITR-5, for the Assessment Year (A.Y.) 2024-25.
The new amendment enables the ITR form filers to disclose the exact amount they paid for medical treatment, training, rehabilitation, or insurance of dependents with disabilities.
The notification can be read from here: https://incometaxindia.gov.in/communications/notification/notification-22-2024.pdf
The CBDT’s issuance of corrigenda for
the new ITR-2, ITR-3, and ITR-5 forms is a proactive measure that underscores
the authority’s commitment to ensuring clarity and accuracy in tax filings. By
correcting minor mistakes swiftly, the CBDT demonstrates its dedication to
facilitating a smoother, more accurate filing experience for taxpayers. This
move is crucial, as it helps prevent confusion and ensures that the information
provided by taxpayers is precise and reliable. Such responsiveness from the tax
authorities not only enhances the efficiency of tax administration but also
fosters a sense of trust and reliability among taxpayers. It’s a clear
indication of the CBDT’s commitment to upholding high standards in tax
governance. Taxpayers, tax professionals, and other stakeholders are advised to
carefully review the changes and updates outlined in the corrigendum to ensure
adherence to the revised requirements for filing ITR-2, ITR-3, and ITR-5 forms
for the A.Y. 2024-25 –
JSPCO
