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Monday, June 1, 2015

New simplified IT forms notified. Last date for filing extended till Aug 31

The finance ministry on Sunday came out with a new three-page income tax return (ITR) forms, in a corrective measure after facing strong criticism from public. The new forms no longer require mandatory disclosure of foreign trips and dormant bank accounts as mandated by the previous form. The new form can be submitted till August 31 this year instead of the regular July 31 deadline. The new forms ....