Pre-filling of Income-tax Returns announced

The Finance Minister said that pre-filled tax returns will be made available to taxpayers which will contain details of salary income, capital gains from securities, bank interests, and dividends etc. and tax deductions. She further said that Information regarding these incomes will be collected from the concerned sources such as Banks, Stock exchanges, mutual funds, EPFO, State Registration Departments etc. "This will not only significantly reduce the time taken to file a tax return, but will also ensure accuracy of reporting of income and taxes", the Minister added.

Source : Equity Bulls

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