All non-corp taxpayers can now use ‘Saral’ form

It was also decided that persons filing their returns for assessment year 2002-03 in Form Nos 2 and 3, will not be required to furnish the general information specified in Schedule I of Form No 2, or Schedule H of Form No 3.

To extend this option to all the non-corporate taxpayers, the finance ministry in a release issued on Friday said that all eligible taxpayers will now have the option either to file their I-T returns in the old Saral form or in Form Nos 2 and 3.

The relaxation allowed to the taxpayers with total income of up to Rs 2 lakh on furnishing of the specified information in Form 2 and Form 3, has also been extended to all the non-corporate taxpayers.

Under the existing income tax rules, non-corporate taxpayers (other than charitable or religious trusts and persons covered under the one-by-six scheme) are required to file their I-T returns for assessment year 2002-03 in Form No 2 (if their income includes income from business or profession), or in Form No 3 (in other cases), by July 31.

The due date for filing of I-T returns for persons whose accounts are required to be audited is October 31.