« Top Headlines » Open DEMAT Account in 24 hrs  New Income Tax Act: ITR forms to be issued prior to FY28, says govt  GSTR-9C Explained: Turnover Limit, Due Date, Statement Format & How to Prepare It in Tally Prime (2025 Update)  Will Income Tax Department release new ITR forms by January 2026? Finance Ministry says this  The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:  ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025  ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck  Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?  Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy  Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief  Digital Efficiency for MSMEs: The Tally Prime Advantage  5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups «  Govt to come out with clarification on works contract... RBI for restoration of tax benefits to RRBs... » Simplify ITR forms: IMC, BCAS to FM July, 28th 2007 The Indian Merchants Chamber (IMC) and Bombay Chartered Accountants Society (BCAS) has made an appeal to Finance Minister P Chidambaram to simplify the process of filing income tax returns by restoring the Saral forms. In a joint memorandum submitted to the Finance Minister, the associations said the Income Tax (Fourth Amendment) Rules 2007 belied the hopes of the tax paying community, as laymen could not comprehend them easily. The assesses to whom the new Income Return Forms applied were either salaried employees and pensioner or small businessmen, the memorandum said. They were all from the unorganised sector and ill- equipped to fathom the new Income Tax Returns (ITR) complicated forms, it said. "We apprehend that the newly prescribed ITR Forms are bound to cause greater hardship, apart from consuming the precious time and energy of the worthy citizens of the country. In view of this, it is absolutely essential that at least Forms ITR 1 to ITR 4 are made far simpler," the memorandum stated. The last date for filing income tax returns is July 31 for salaried individuals, self-employed, small enterprises with a turnover of less than Rs 40 lakh and professionals with receipts of less than Rs 10 lakh a year.