Tax consultants flay new IT return forms

Criticising the finance minister for introducing the 'complicated' 29-page Income Tax returns (ITR) forms and doing away with the 'Saral' form, the Mysore unit of the Tax Consultants Association of India (TCAI) has demanded the rectification of the lacunae in the new forms, option to file ITRs in the old 2D Saral and extension of the last date to file returns up to December 31.

The local TCAI office-bearers met the Mysore IT Commissioner and proposed to represent their 14 demands to the Finance Minister and the Prime Minister.

Listing the faults in the newly-introduced forms, Mysore Centre president SV Kumar told reporters that the CBDT's direction to the assessees not to file enclosures with ITR 1 to 8 will deny them the benefits of tax deductions like LIC, PF and other savings and on payment of property tax and capital gains.