The proposal to have a common ITR form for all taxpayers is a good move provided it doesn’t confuse them further. With some 40 questions to answer, that is easier said than done.
The first and the primary prayer made by the petitioners in Rajasthan High Court was for extension of time limit for filing returns and furnishing tax audit reports.
The centre has announced a range of tax measures which includes extended deadlines, suspending the recovery of taxes and quicker refunds to taxpayers, thereby improving their liquidity position