New ITR form announced by the Income tax department
With the due date for filing return of income coming closer, the IT department has announced the revised forms to be used for fling your return of income...
Major changes in the revised ITR form vis a vis old ITR form:
 The new ITR-2 form requires the taxpayers to provide a detailed break-up of tax
exempt allowances in the schedule S (for salary income).
 Now a taxpayer will also have to provide a detailed break-up of capital gains made during
the year in several categories given in the new ITR form.
 If you have sold a house property during the year, now you have to provide the details of such transaction and investment made, if any to save taxes.  If you have purchased your first house property between April 1, 2013 and March
31, 2014, you are eligible for an additional deduction (over and above the INR
1,50,000 deduction under Section 24) of INR 1,00,000 on housing loan interest under
Section 80EE. The ITR form has added the option to claim such deduction.
In case you need any further information, do reach us at info@nritaxhelp.com.