NDTV | Updated On: April 18, 2015 18:30 (IST)
The Finance Ministry will reconsider and simplify the new income tax return form requiring taxpayers to disclose instances of foreign travel and all bank accounts held by them in the country for the assessment year 2015-16, Press Trust of India reported.
The Central Board of Direct Taxes, the apex policy making body of the Income Tax department, had earlier notified new Income Tax Return (ITR) forms for the current assessment year, making some additions to the existing format as part of obtaining new information to check the menace of black money. (Read more)
The Central Board of Direct Taxes, the apex policy making body of the Income Tax department, had earlier notified new Income Tax Return (ITR) forms for the current assessment year, making some additions to the existing format as part of obtaining new information to check the menace of black money. (Read more)
The new ITR forms, including the ITR-1 and ITR-2, require an assessee to furnish the number of bank accounts held by the individual "at any time (including opened/closed) during the previous year" with the last balance in his or her account on March 31 of the just concluded fiscal year.
| For Profit Update, |
via Business - Google News http://ift.tt/1zt7c7k
Put the internet to work for you.
0 comments:
Post a Comment