Parliamentary panel asks Finance Ministry to expeditiously come out with common ITR form

The Standing Committee on Finance, chaired by BJP MP Jayant Sinha, had earlier flagged difficulties being faced by people in filing Income Tax returns and urged the tax department to make the process simpler and more taxpayer friendly.

By ET Bureau | Updated: Jul 28, 2023, 12.28 AM IST

It is expected that the proposed ITR form brings ease of filing returns to individuals and non-business type taxpayers considerably.

NEW DELHI: The Parliamentary Standing Committee on Finance, chaired by former minister of state for finance Jayant Sinha, has asked the finance ministry to come out with a common income tax return at the earliest for the convenience of taxpayers.

The finance ministry in its reply said that the income tax department is already working on it and it had expanded the scope of pre-filled information, including on income from house property, bank interest, dividends. In November, the income tax department had announced a user-friendly common income tax return form for all taxpayers, except trusts and non-profit organisations. It had invited stakeholder comments on the same. However the department is yet to launch the common return.

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