“Today it takes more brains and effort to make out the income tax form than it does to make the income.” This quote by Alfred E. Neuman aptly describes the plight of assessee on the recently introduced income tax return forms under the series ITR by the government.

Eight new Income Tax return forms now replace the old Saral forms. Accordingly, the income tax returns by all categories of assessees from the assessment year 2007-08 (Finanical Year 2006-2007) onwards, need to be furnished in the new format as returns in old forms would not be accepted. The new forms can be easily downloaded from the income tax department website www.incometaxindia.gov.in

»