Income tax return forms will be simpler from next year

 Income tax return (ITR) forms will be simpler from next year. The government-appointed committee on the issue held its first meeting in which the problems faced by online filers was also discussed.

 The notification for the simpler and more user-friendly IT return forms is expected as early as April next year. Last year too, the government attempted to simplify these forms but the feedback received by the finance ministry has that these forms were still beyond comprehension of an average individual.

 “The Central Board of Taxes has started working on how the IT return forms can be made simpler,” a senior government official said.

 In May this year, the finance ministry had came out with new three-page ITR forms but soon they met with a controversy over provisions for mandatory disclosure of foreign trips and dormant bank accounts.

 The ministry had to re-do the exercise of bringing out the forms afresh dropping these two provisions.

 “The aim is to make the job easier for the tax filers,” the official said adding, the government believes that in most cases people do not file tax return because they cannot do it by themselves.

 He said, the forms will be notified by the end of April so that the delay in filing return is avoided.

 This year, the forms came late due to which the government had to twice extend the deadline for filing return.

 The government is also planning to take suggestions from tax payers and other stakeholders before bringing out the new ITR forms.

 The new ITR forms are expected to have a column for information about foreign trips undertaken by a taxpayer and the expenditure incurred on foreign soil.

 “This is one way the government can have more information about black money,” the official said.