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Wednesday, August 12, 2015

New ITR forms for 2015

 
 


Income Tax Department seeks Aadhar particulars and two e-mail IDs from those filing taxes.
The Income Tax Department has noti fied the new set of ITR forms for taxpayers to file their returns for assessment year 2015-16.

With the Finance Ministry publishing the gazette order, taxpayers and other entities can now file their Income Tax Returns (ITR) by 31 August, the new deadline. The government dropped the earlier forms which were criticised for seeking numerous additional details.

The most simplified form, ITR-2A, to be filled by individuals and HUFs who do not have income from either business, profession or by way of capital gains and do not hold foreign assets, only asks for the passport number of the tax filer, with the words `if available'.

Assessees will have to declare only the `total number of savings and current bank accounts' held `at any time during the pre vious year (excluding dormant accounts)'.

The form also has space for the IFSC code of the bank and tax filers have been given an option to indicate the bank accounts in which they would want their refunds credited.

The Income Tax department, in the new ITRs, has also sought the Aadhar number and has also given the options for providing two e-mail IDs. "The inclusion of Aadhar and e-mails is to ensure a regime of online ITR filing in the country," a senior official said.

The department has provided for an additional four-page schedule for those who wish to file additional details, applicable on a case-to-case basis.

The ITR-2 form is simple but tax filers will have to declare if they hold any foreign assets or have income from `any source outside India'.

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