Simplified ITR forms to be out by next week

New Delhi, May 22 

The Finance Ministry will come out with simplified Income Tax Return (ITR) forms by the next 

week, replacing the controversial ones that have been put on hold. 

“We will notify the new simplified ITR forms in a week,” a top government official said.

The ITR forms were put on hold by the ministry last month after the industry, assessees and Members of Parliament voiced their reservations because of the cumbersome disclosure requirements.

Talking to reporters, Finance Minister Arun Jaitley said three-four additions were made in income tax returns forms.

“On matters of taxation, the government and my position is clear and that is simplification. Earlier, there were 12-and-a-half pages. According to me, those pages are excessive. I called up and put on hold the ITR forms,” Jaitley said.

The minister was in Washington last month when the ITR forms were notified. Jaitley termed the simplification as “a good step”.

The salaried individuals and those persons who do not have business/professional income are required to file returns in either ITR-1 or ITR-2 by July 31.— PTI