Govt drops new tax form

SUCCUMBING TO sharp criticism from various quarters, the government on Thursday dropped the new four-page Form 2F for filing income tax returns.

SUCCUMBING TO sharp criticism from various quarters, the government on Thursday dropped the new four-page Form 2F for filing income tax returns.

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Revenue Secretary K.M. Chandrasekhar told reporters that the Form 2F was optional and meant only for this year. The assessees could file returns this year either in the existing Saral form or the new Form 2F, he said.

A complicated replacement of the popular ‘Saral’, Form 2F was widely criticised for seeking details of expenditure and investment. The government will come out with another form next year based on the feedback it receives this year.

Earlier, while notifying the new Form 2F, the government had said that it would be optional for this year and mandatory from the next year.