Government to introduce new ITR form by month-end

Government will introduce new forms for filing of income tax returns for the assessment year 2013-14 by the end of this month, Minister of State for Finance S.S. Palanimanickam said Friday.

“The new forms for filing of income tax returns for the assessment year 2013-14 are proposed to be notified by the end of March 2013,” Palanimanickam said in a written reply to a question in the Lok Sabha.

He said the new Income Tax Return (ITR) form would incorporate the changes introduced in the income tax regulations.

“The government proposes to introduce new procedures/forms for filing Income Tax returns. Every year government notifies forms for filing of income-tax returns after incorporating the changes brought out by the Finance Act of the previous year and the suggestions received from stakeholders,” he said.