Most income taxpayers usually try to pay income tax by hiding other income. But such people should no longer be careful. Income taxpayers will no longer have to take note of every income they receive and hide the evidence of that income. The Income Tax Department will further facilitate the filing of IT returns from this financial year.
Shocking news for income tax payers ..?
The Income Tax Department will complete the advance payment of personal taxpayers and hand over the Income Tax Department returns. The ITR forms issued by the Income Tax Department can be used to avoid any hassle for the assessees while filing income tax. The Income Tax Department has already made available the partially completed forms.
Forms issued in advance by the Income Tax Department include details of capital income as well as dividend income, income on banks and post office deposits. Filling in the details in advance will not hide the income of the income taxpayer. Some of the income taxpayers are reluctant to enter the details of share transactions in the returns. Even people like that should no longer be careful.
On the other hand, Finance Minister Nirmala Sitharaman has revealed that those above the age of 75 are not required to file returns in the budget. This provision applies only to those who receive income through pension and interest.