New ITR Forms may not be that Saral

The Economic Times - - Front Page -

The Cen­tral Board of Di­rect Taxes has re­leased in­struc­tions for the new ITR forms, but ex­perts be­lieve fill­ing up the new sched­ule AL (as­sets and li­a­bil­i­ties) could prove chal­leng­ing for tax­pay­ers, re­ports Chan­dralekha Muk­erji. The new sec­tion AL is manda­tory for in­di­vid­u­als and HUFs earn­ing more than .₹ 50 lakh a year and re­quires the tax­payer to de­clare all move­able and im­mov­able as­sets.

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