CBDT vide a Press release dated 09.01.2020 has rolled back
the non-applicability clauses inserted through Notification 01/2020
dated 03.01.2020.
Taxpayers who jointly own House property or to those spending on
electricity in excess of Rs.1,00,000/- or foreign travelling in excess
of Rs 2,00,000/- who were not allowed to file ITR-1 now
by press release
allowing them to file of ITR-1(Sahaj). Also, ITR-4 (Sugam) can now be
filed by Joint property owners who files their return under Presumptive
taxation scheme.
Now only the format related changes remains effective in respect of the Notification no. 01/2020 dated 03.01.2020 such as:
1. If the taxpayer holding passport then tax payers required to mention passport no. in ITR-1 and ITR-4 as applicable.
2. Financial details in respect of figures of Cash and Bank are to be
given in detailed (i.e.Opening Balance + Receipts during the year –
Payments during the year = Closing Balance) as against the existing
details of only Closing balance as on the end of the financial year in
ITR-4
3. No requirement of disclosing the other details as Unsecured Loans,
Sundry Debtors and Creditors, Closing Stock which were required to be
given earlier ITR-4 while filing return under presumptive taxation.
This rollback of the notification will give huge relief to the
Salaried and Presumptive Taxation taxpayer in terms of lesser and easy
compliances.
Source: CBDT Press Release dated 09 January, 2020