The Income Tax Department today launched and activated all the seven ITR forms for e-filing by taxpayers, after more than a month of them being notified.
Income Tax Department
The tax department will likely withdraw a show-cause notice issued to several banks asking them to pay the service tax on ‘free services’ provided to customers, following the finance ministry’s intervention.
An official of the Central Board of Direct Taxes (CBDT) told ANI that the Income Tax Department strives to maintain a workplace environment that functions well and possesses high standards of conduct and decorum.
The income tax department has warned salaried taxpayers against under-reporting income or inflating deductions / exemptions while filing income tax returns.
The income tax department recently notified income tax return (ITR) forms for the financial year 2017-18 (assessment year 2018-19). A one-page simplified ITR Form-1 (Sahaj) has been notified.