Government puts controversial I-T returns form on hold

8369436-Indian-rupee-sign-iThe finance ministry and finance minister Arun Jaitley held a review with senior officials on the issue of the controversial 14-page income tax return form, there are indications that the form will be simplified significantly and be made more taxpayer friendly.

Sources say the unwelcome changes in the I-T return form were done made on the recommendations of the Supreme Court mandated Special Investigation Team probing black money.

Facing angry protests against the proposal to seek details of foreign travel and domestic bank accounts of taxpayers in the new income tax return forms, the government moved swiftly to contain the damage and decided to put the issue on hold.