Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
The department notified the new set of ITR forms early this week
Last year, the e-filing commenced on July 1 as there was delay in finalisation of the ITR forms
The tax department has released the software for preparing the Income Tax Return forms -- ITR 1-Sahaj, ITR 2, 2A and 4S-Sugam
The current 3-page form is simplified version of an income tax return form after removing mandated disclosure of foreign trips and dormant bank accounts introduced two years back.
Tax Guru Anil Rego answers your personal income tax queries.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
With the new tax slabs applicable for income earned during Financial Year 2014-15 and host of new changes in income tax returns and filing norms, this e-filing season will certainly bring in a new experience for taxpayers. Here's how
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