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Directors, Investors in unlisted Companies cannot file ITR Forms Sahaj, Sugam

The Income Tax Department has barred directors as well as those who have invested in unlisted companies from filing income tax return forms Sahaj and Sugam. The move is aimed to clamp down on shell companies and check routing of black money. According to the new tax return forms for AY 2019-20 notified by the I-T Department, the directors in both listed and unlisted companies will be required to file their returns in ITR-2 in which they will have to disclose details of Director Identification Number, Permanent Account Number and equity holding along with the names of the companies.

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