Monday, May 23, 2011

What is New in ITR-4 for Assessment Year 2011-12

I want to share those points which i have found as New in ITR-4 in comparison with the last year excel based ITR-4.  First of all the name of ITR-4 has been changed in two parts s ITR-4 and ITR-4S (SUGAM).  Difference between ITR-4 and ITR-4S (SUGAM) has already explained that ITR-4S will be used for Presumptive Business Income and ITR-4 will be used for Individuals and HUF having income from a proprietor business or profession.  Now devote some time in below updation :-
  • Mandatory Bank Account Number :-
    Earlier bank account number was mandatory only for refund cases. But not from the Assessement Year 2011-12, Bank Account Number is mandatory for all (refund cases or non-refund cases). 
  • Digits in Excess of Bank Account Number
    In case Bank Account Number more than 17 digits,  omit/forget digits from Left as shown in  above picture.
  • TDS-TCS :- Columns have been reduced in 4 numbers in TDS-TCS details.   Only Tan Number of Deductor, Name of Dedcutor, Total Tax Deducted, Amount out of Total Tax Deducted claimed for this year  are to be filled.  In Previous years,  Address, City, State, Pin Code of dedcutor,  Amount Paid, Date of Payment/Credit were extra columns  which have been abolished in RPU relating to  Assessement Year 2011-12

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