Recently, CBDT has issued a notification on 22nd June, 2015 as 8th Amendment in Income Tax Rule, 2015 which is effected from 1st April, 2015 with notifies simplified ITR forms and now taxpayers earning exempt income above Rs 5,000 can file ITR-1 and 4S.
The latest new and simplified ITR Forms are finally available here as well as on the income tax site.
The Income Tax department has issued the new notified and simplified ITR forms set for all tax payers. Now, all the taxpayers and other entities will come in limelight to file their ITR.
Due to these modification the Income Tax Department has already extend the due date of filing of Income Tax Return for Asstt. Year 2015-16 from 31st July, 2015 to 31st August, 2015. Therefore, it requires race for filing Income Tax Return begins as Department notified simplified ITR Forms.
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