The government has come out with ‘Saral-II’, a new income tax returns form, comprising just two pages and aimed at making tax filing even easier than Saral I form had done.
Apart from the usual columns to collect details of income from salaries and pensions, house properties and other sources for calculating a person’s — or any other entity’s — total (gross) income, the new form also includes columns where details of advance tax and self assessment tax payments and transactions reported through Annual Information Return can be furnished.
Experts termed the form a major improvement. “It is a very tax payer-friendly form,” said Shailesh Haribhakti, managing partner of tax consulting firm BDO Haribhakti. A total 2.8 crore individuals filed I-T returns in 2008-09.