Wednesday, June 3, 2015

Income Tax Return Forms ITR 1, 2 and 4S Simplified for Convenience of the Tax Payers

      A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains, Income from Business/Profession or Foreign Asset/Foreign Income; In Form ITR 2 and the New Form ITR 2A, the Main Form will not Contain more than 3 Pages, and other Information will be Captured in the Schedules which will be Required to be filled only if applicable;
       As the Software for these Forms is under Preparation, they are likely to be available for e-filing by 3rdweek of june 2015;Time Limit for Filing these Returns is also Proposed to be Extended up to 31.08.2015;
      Only  Passport Number, if available, would be required to be given in forms Itr-2 and itr-2A. Details of Foreign Trips or Expenditure thereon are not required to be Furnished.





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