Income Tax News: 7 Key Changes in New ITR Forms & Excel Utilities Taxpayers Must Know

New changes to ITR Forms, meant to make things clearer and cut down on false claims, require taxpayers, especially salaried people, to give more information when they file their returns. Seven big changes you need to know about before you file your ITR this year.

1. HRA Claims: Detailed Salary and Rent Information Now Mandatory

Taxpayers claiming House Rent Allowance (HRA) exemption must now provide:

• Place of work
  

• Actual rent paid
  

• Actual HRA received
  

• Salary break-up (basic salary and dearness allowance)
  

• Metro or non-metro city status

These details are now compulsory in the ITR-1 form, making HRA claims more transparent and verifiable.

2. Section 80C Deductions: Policy or Document Number Required

To get up to ₹1.5 lakh under Section 80C (that covers things like PPF, tax-saving FDs, life insurance, etc.), you need to enter the policy number or document identification number. This is the new way of doing things instead of just reporting the deduction amount, which makes it easier to find.

3. Section 80D: Insurer’s Name and Policy Number Needed

For Section 80D deductions on health insurance premiums, you need to give the name of the insurance company and the policy or document number. This makes sure that claims that are true are accepted.

4. Section 80E: Full Education Loan Details Compulsory

Interest deduction on education loans (Section 80E) now requires:

• Lender’s name
  

• Bank name
  

• Account number
  

• Loan sanction date
  

• Total sanctioned amount
  

• Outstanding amount as of March 31
  

• Interest paid

Missing any of these details may prevent ITR submission.

5. Home Loan Claims (Section 80EE/80EEA): Lender Information Required

For home loan interest deductions:

• Lender details
  

• Account numbers
  

• Sanction dates
  

• Loan amounts
  

• Outstanding balances
  must be disclosed. 

This helps prevent overlapping claims and ensures deductions are genuine.

6. Section 80EEB: Electric Vehicle Loan Disclosure

Claims for interest on loans for electric vehicles need the same information as claims for interest on home and education loans. This makes loan-related information standard across all deduction categories.

7. Section 80DDB: Name of Disease Now Mandatory

For Section 80DDB medical treatment deductions, you must now say what disease is being treated. This makes claims more in line with medical certification standards.

These changes will help make filing taxes easier and faster. People who are taxed must make sure they have all the information and papers they need before they file their ITR for FY 2024–25.