Income Tax forms simplified, date for filing returns extended

June 01, 2015 08:30

The finance ministry has came out with new three-page income tax return (ITR) forms, dropping the controversial provision for mandatory disclosure of foreign trips and dormant bank accounts, while it also extended the last date of filing.

The new forms -- ITR 2 and ITR 2A -- will have only three pages and other details will have to be filled in schedules, the ministry said in a statement.

A new form ITR 2A has been brought out by the Finance Ministry which can be filed by an individual or HUF (Hindu undivided family) who does not have capital gains, income from business/profession or foreign asset/foreign income.

The statement also said that the last date for submission of tax returns will be extended to August 31, 2015.

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