New ITR form seeks more information about income
Individual taxpayers will have to disclose a lot more about their salary structure and income from properties in the new income tax return form notified on Thursday. NRIs get relief who could earlier get credit or refunds only with the bank accounts held in India. They can now provide details of foreign bank accounts. A new ITR-2 form will be filled by NRIs. Last year, 30 million people filled the ITR-1 form which is filled by people earning up to Rs 50 lakh and have one property.
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