New Delhi: After facing criticism, the finance ministry on Sunday came out with new “simplified” three-page income-tax return forms which will require people to only fill their passport numbers in case of foreign travel. The deadline for filing returns has been extended to August 31.
The ministry has done away with the provision where people had to give details of foreign trips and also expenditure incurred on overseas travel.
As regards to bank account details, only the IFS code and account number of current and savings accounts, held at any time during the previous year, will have to be be filled up.
The balance in these accounts will not be required to be filled. The details of dormant accounts which have not been operational during the last three years are not required.
The software for the new I-T forms is under preparation and they are likely to be available for e-filing by the third week of June.
The income-tax department will, therefore, extend the deadline for filing returns from to August 31 from July 31.
