A simpler form for filing ITRs will be available from April 1
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Filing income tax returns is expected to get easier for salaried citizens, with the government introducing a new form from April 1. The ITR-1 form, also called Sahaj, will have fewer columns that need to be filled as some of the income tax deductions have been clubbed together, reported PTI.
Currently, the form has 18 columns for claiming deductions under Section 80 of the Income Tax Act. “Columns that will remain are those used for claiming deductions under Section 80C, and 80D. Those individuals who want to show deductions under other heads can do so by selecting an option,” an official told PTI.
The new form is likely to encourage more people to file returns. Currently, only six crore out of 29 crore people who have a Permanent Account Number file their income tax returns. The ITR-1 form can also be filled online from April 1 to July 31. The Finance Bill passed in the Lok Sabha on March 22 made it mandatory to furnish an Aadhaar card to file income-tax returns from July 1. #casansaar (PTI)
Currently, the form has 18 columns for claiming deductions under Section 80 of the Income Tax Act. “Columns that will remain are those used for claiming deductions under Section 80C, and 80D. Those individuals who want to show deductions under other heads can do so by selecting an option,” an official told PTI.
The new form is likely to encourage more people to file returns. Currently, only six crore out of 29 crore people who have a Permanent Account Number file their income tax returns. The ITR-1 form can also be filled online from April 1 to July 31. The Finance Bill passed in the Lok Sabha on March 22 made it mandatory to furnish an Aadhaar card to file income-tax returns from July 1. #casansaar (PTI)
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