For the assessment year 2015-16, the IT department has notified the new set of simpler income tax return (ITR) forms for filing the returns.

The earlier set of filing the returns has led to many controversies, as it sought details about foreign travel and dormant bank accounts. Now with the introduction of the new set, the taxpayers can file their ITR till August 31st.

According to the ITR-2A, which is to be filled by those individuals and Hindu undivided families (HUFs), who do not have income from either business, profession or by way of capital gains and do not hold foreign assets, just a passport number of the filer is sufficient to file the returns.  

The total number of savings and current bank accounts held by them at any time during the previous year (excluding dormant accounts), have to be declared by the filers.  

Along with the above, there is a space for filling the IFSC code of the bank, and as an additional feature, the filers can avail the opportunity to indicate their bank accounts, if they want their refund to be credited in the concerned accounts.

The Aadhar number of the filers and the space for providing two email IDs are the two other new options in the ITR forms. These two changes are literally to encourage the online ITR filing. The filers who wish to provide additional information can do it, by the new four page schedule.  
 
New ITR forms protect privacy of an individual

The earlier forms received huge complaints from individuals, industrialists and MPs regarding the privacy. Basing on this, the new forms are properly made to protect such privacy of the people.   
 
By Phani

Related links:

Filing of income tax returns made user-friendly