New Income-Tax Return - Form Number 2F
With a watch to make return filing easier, the Central Government of India has notified on Very first June, 2006 a new income-tax return variety " design 2F" for comparability yr 2006-07.
This kind has been made in a fashion Thus that it is Uncomplicated to comprehend and can be filled up with small or no help.
This variety can be applied by resident college students and HUF who do not have -
(i) revenue and positive aspects of industry or profession; or
(ii) funds gains; or
(iii) agriculture income; or
(iv) additional than 1 house property; or
(v) any situation for relief below Portion 89 in respect of arrears or advance of Salary.
However Individuals/HUF obtaining long-term cash Edge from transactions in securities on which securities check tax (STT) has been paid out out can On best of that use this form.
This variety is pertinent with immediate effect. However to permit adequate time to taxpayers to familiarize with this Return form, the present one world wide web web page Saral kind :2E can On leading of that be used up to 31.7 2006.
The salient provides of the new style are-
(i) It has been expanded to 4 web pages Thus that there is enough space to fill in the details.
(ii) No annexures are required to be associated with this Return form. If enclosed, very same shall be returned by the official Possessing the return.
(iii) complete explanatory instructions have been provided to fill this Form.
(iv) Cross-referencing to the guidelines has been provided for most entries.
Schedule five of the new type seeks to have cash-flow history for the monetary year of which Income has to be reported. even now for comparison calendar year 2006-07 it is optional to fill this schedule. The major sale of furnishing the cash-flow report is that the specifics collected from the third occasion resources by way of AIR can be verified with the outgoings during the year. Therefore, this would drastically decrease the possibility of scrutiny appraisal or any other style of intrusive investigation.
The Govt proposes to encourage the taxpayers to stick to a two-step process to report this Return. First, they ought to transmit this return and schedules thereto electronically (without electronic signature) to web-site http://incometaxindiaefiling.gov.in/portal/ and thereafter file a paper Return. The day time of this kind of transmission and acknowledgement variety offered electronically by the Income-tax Department for this type of transmission has to be mentioned in the paper Return. However, in lay claim the facts of the Return are not transmitted electronically, the paper Return have to necessarily be filed and will be treated as a valid Return.
The Income-tax Department would like to encourage taxpayers to use this model Therefore as to serve them better.
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