Unpardonable delay, CBDT notifies ITR 3, 4, 5, 6 and 7: Just one month left

 

30 Jul 2015, 5:40 PM- CBDT notifies ITR Forms 3, 4, 5, 6 and 7. Exact one month left for due date to file your Income Tax Return for FY 2014-15 and finally CBDT released the ITR Forms.

 

ITR Forms were modified for the simplicity of taxpayers but the delay in notifying the modified Forms in unpardonable. The motive of simplicity has turned into complexity for all assessees. They are left with just one month to comply with all the compliances and to meet the due date i.e., 31^st August 2015. Unpardonable delay, CBDT notifies ITR 3, 4, 5, 6 and 7: Just one month left.   Among the modification, like:

• Furnishing of Passport Number
• Disclosure of all bank accounts held
• Introduction of new ITR Form

CBDT mandates reporting of Corporate Social Responsibility (CSR) expense in ITR 6. With the coming of remaining ITR Forms, respective taxpayers will rush to file the return and it may lead to mistakes. Filing of ITR 3, 4, 5, 6 and 7 and consequently filing of return of individual in such short span of time may end in confusion and there will high risk of defective return. Though returns are notified late but the due date is still 31^st August 2015 so, to avoid last minute rush and mistakes in your return write to us at info@taxmantra.com or visit us @ taxmantra.com.  _______________________________________________________________