New IT Return Form

Monday, July 31, 2006 New IT Return Form new return is of about 20 pages. No more one page return. Consultants will make merry as indivisuals may find it difficult to fill the forms 1:39:06 PM Posted By Pattabiraman Ganesan Comments (2) Society Comments aa Monday, July 31, 2006 4:22:08 PM aa admin Monday, July 31, 2006 5:18:03 PM This is how our intelligent finace minister is encouraging more people to file their IT returns??? K. Venugopal When Income Tax returns become an on-line affair, every income tax payee should be afforded a subsidised pocket-calculator type PC by the Income Tax Department to encourage all individuals to file IT returns themselves. This way individuals will get to learn the financial matters as well as get rid of their CAs and save money. The IT Dept also will have higher tax compliance, thereby off-setting their subsidy. Further, the assessees should be permitted to file their returns any time during the assessment year, with the facility of correction both by themselves and as advised by the Assessing Officer. That way the I.T. Dept would become partners in the assessee's financial stability and clarity.