Changes in ITR 6 by virtue of notification 82 of 2020 Dt. 01.10.2020

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A few days ago we had discussed that ITR 6 is now available for FY 2019-20 and we had also discussed major amendments made to it.

However, recently CBDT had made few amendments to rules of Income tax, Form 10-IE and 10-IF and changes to Form 3CD were announced by virtue of notification 82 of 2020.

In that notification changes were also announced to ITR 6, related to section 115BAA and 115BAB which are as under:

1. Changes in schedule DPM (Depreciation on plant and machinery):

The amendment is related to changes in WDV of machinery due date opting of section 115BAA as value of additional depreciation available in unabsorbed depreciation would be added to opening WDV of asset of 01.04.2019.

2. Changes in schedule CFL (Carry forward loss):

Again, this schedule has been amended to include the effect of section 115BAA where if a business which had loss which is not allowed u/s 115BAA would be reduced from existing carry-forward loss and reported in this schedule.

3. Changes in schedule UD (Unabsorbed depreciation):

As discussed in point no. 1 WDV shall be updated for plant and machinery for which there is unabsorbed additional depreciation and same shall be reduced from the schedule of Unabsorbed depreciation.

Thus, this are the 3 changes made in ITR 6 by virtue of notification 82 of 2020. However this changes might be yet to be incorporated in the ITR utility and hence it is advisable to file return after this changes are incorporated.

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