The Income Tax department on Thursday launched the efiling of income tax returns for a few more category of filers for the assessment year 2016-17 after it operationalised some of them early this week. The latest enabled Income Tax Returns (ITRs) include ITR2 for individuals and Hindu Undivided Families not having income from business or profession, 2A for individuals and
HUFs not having income from business or profession and capital gains and who do not hold foreign assets and ITR3 which is meant for individuals or HUFs being partners in firms and not carrying out business or profession under any proprietorship. The department had activated two such forms on 2 April which included ITR 1 (SAHAJ) meant for individuals having income from salary and interest and ITR 4S (Sugam) for individuals, HUF, partnership firms having income from presumptive business. All the ITRs are available on the
official efiling web portal of the department —
http://incometaxindiaefiling.gov. in/. “The rest four ITRs will be activated shortly for efiling,” a senior official said. The Central Board of Direct Taxes (CBDT) had notified the new forms on 30 March and ITRs can be filed till the stipulated deadline of 31 July. A total of nine ITRs have been notified which include the Sahaj (ITR1), ITR2, ITR2A, ITR3, Sugam (ITR4S), ITR4, ITR5, ITR6, ITR7 and an acknowledgement form called the ITRV. People with an income of more than Rs.50 lakh per annum and who own luxury items like yacht, aircraft or valuable jewellery, under the new ITR filing scheme, will have to disclose these expensive assets with the IT department in the new ITRs. A ‘tax calculator’ was also launched by the department for filers which acts as an online computerbased programme, hosted on the website of the tax department, and is meant to help taxpayers or filers assess their tax liability.
HUFs not having income from business or profession and capital gains and who do not hold foreign assets and ITR3 which is meant for individuals or HUFs being partners in firms and not carrying out business or profession under any proprietorship. The department had activated two such forms on 2 April which included ITR 1 (SAHAJ) meant for individuals having income from salary and interest and ITR 4S (Sugam) for individuals, HUF, partnership firms having income from presumptive business. All the ITRs are available on the
official efiling web portal of the department —
http://incometaxindiaefiling.gov. in/. “The rest four ITRs will be activated shortly for efiling,” a senior official said. The Central Board of Direct Taxes (CBDT) had notified the new forms on 30 March and ITRs can be filed till the stipulated deadline of 31 July. A total of nine ITRs have been notified which include the Sahaj (ITR1), ITR2, ITR2A, ITR3, Sugam (ITR4S), ITR4, ITR5, ITR6, ITR7 and an acknowledgement form called the ITRV. People with an income of more than Rs.50 lakh per annum and who own luxury items like yacht, aircraft or valuable jewellery, under the new ITR filing scheme, will have to disclose these expensive assets with the IT department in the new ITRs. A ‘tax calculator’ was also launched by the department for filers which acts as an online computerbased programme, hosted on the website of the tax department, and is meant to help taxpayers or filers assess their tax liability.
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