The I-T department will by January notify the ITR forms and rules under the simplified Income Tax Act, 2025, which will come into effect from next fiscal beginning April 1, Central Board of Direct Taxes (CBDT) chief Ravi Agrawal said on Monday.
The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, he said.
“We are in the process of designing forms and rules. We are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system,” Agrawal told reporters after launching the Taxpayers’ Lounge at the India International Trade Fair (IITF).
The intent is to keep the income tax return (ITR) forms simple for taxpayers to ease compliance, he added.
The Income Tax Act, 2025 was passed by Parliament on August 12.
All the different forms applicable under the Income Tax Act, like TDS quarterly return form and ITR forms,​The I-T department will by January notify the ITR forms and rules under the simplified Income Tax Act, 2025, which will come into effect from next fiscal beginning April 1, Central Board of Direct Taxes (CBDT) chief Ravi Agrawal said on Monday.
The intent of the department is to keep the I-T Return forms simple to ease compliance under the new law, which replaces the six-decade old Income Tax Act, 1961, he said.
“We are in the process of designing forms and rules. We are working towards putting this in place by January so that taxpayers have sufficient time to adapt their processes within their system,” Agrawal told reporters after launching the Taxpayers’ Lounge at the India International Trade Fair (IITF).
The intent is to keep the income tax return (ITR) forms simple for taxpayers to ease compliance, he added.
The Income Tax Act, 2025 was passed by Parliament on August 12.
All the different forms applicable under the Income Tax Act, like TDS quarterly return form and ITR forms, ​Latest News [ SOBAN NEWS: International and National ]
