Income Tax: This small update could change the way you file your returns

Taxpayers may soon get a relief from the hassle of filing their Income Tax return forms as the government may soon start “pre-filled” forms, said Sushil Chandra, chairman, Central Board of Direct Taxes (CBDT).

The user may only need to endorse their IT return forms which will already be filled with the taxpayer’s income, income sources and personal details, he said, adding that it will expedite the process for the government. The centre is also working towards completing the process of return within a week, he added.

“Under a simplified return format, returns with declared incomes up to Rs 50 lakh would be a single-page document. It would hardly take time to fill up,” said Chandra, at a CII event.