Govt notifies simplified ITR; e-filing to start from tomorrow

March 31, 2017 15:22

The government today notified a simplified Income Tax Return form for individuals which will be available for filing ITR for Assessment Year 2017-18 from tomorrow.

Currently, SAHAJ (ITR 1) is filed by salaried employees and ITR 2 by individuals and HUFs whose income does not include income from business. The government has done away with two forms ITR 2A (used by individuals & HUFs not having income from business or profession and capital gains and who do not hold foreign assets). Only 6 crore out of 29 crore persons holding permanent account number (PAN) file income tax returns at present.

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