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 Tax and transparencya

Govt may revise I-T returns form
April, 07th 2007

Soon you'll have to file your income tax returns and the government is thinking of options to revise the new form.

However, till that happens, all income tax return forms have been put on hold because changes in all kinds of forms are likely.

Finance Ministry might drop the clause asking people to report spending. There's been speculation that the new form would be dropped completely but that is unlikely.

However, if the government drops the schedule, asking you to list your spending, it'll be a huge relief to all.

The Finance Ministry is still working out what shape the return forms will take before handing it over to the Finance Minister.

However, taxpayers can expect an announcement in early May, post UP elections.

 
 
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