New Delhi,Friday, June 07, 2002: In a bid to simplify tax filing procedures, the government today provided the option to all individual assessees to file returns through the 'Saral' form.
The Finance Ministry, which offered the same option only to non-corporate tax payers with income below Rs 2,00,000 on June five, extended the facility to all tax payers irrespective of the income slab.
"It has now been decided that all eligible non-corporate taxpayers will have an option either to file their returns of income in the old Form No-2D (Saral) or in Form No 2 and Form No 3, as the case may be," the ministry said in a release here today.
Under the existing Income Tax rules, non-corporates other than charitable or religious trusts and persons covered under One-by-Six scheme are required to file their returns in Form No 2, if the income is from business or profession and in Form No 3, if income comes from other sources.
"The assessees will not be required to furnish the general information specified in Schedule-I of Form No 2 or as the case may be, Schedule-II of Form No 3," it said.
The measures are part of the efforts to further simplify procedures for small tax payers, the ministry said.
The move comes after representations from various quarters about the complications involved in filing tax returns and after Finance Minister Yashwant Sinha discussed with income tax commissioners the complexities involved in filing returns.