Simplified Income Tax return form to be introduced from 1st April
Posted on: 31/Mar/2017 10:27:16 AM
The Income Tax Department has been emphasising the need for all monthly salary earners to file their annual Income Tax returns.
As a facilitating measure, the IT department will introduce a new simplified for form for filing the IT returns of 2017-18 estimates.
An Income Tax department official explained that the filing return form for the year 2017-18 has been revised to a simpler format in order to save time and effort of those monthly salary earners who need to file their IT returns. Several clauses from the old form have been removed including the details on the IT deduction items.
In the new Income Tax filing return form I.T.R.-1/Sahaj, there are 18 sections. So, it is easier and simpler to fill. This new form will be introduced from 1st April.
With this, the monthly salary earners can file their IT returns as early as April.
The last date for filing IT returns is 31st July.
It is expected that the facility to file IT returns online will start from 1st April as well.
