Meanwhile, the department has extended the deadline for filing tax returns to October 31 from July 31, for those filing non-auditable accounts.
Non-auditable accounts are furnished by those businesses which have annual turnover of up to Rs 40 lakh and those professionals having income up to Rs 10 lakh per annum.
The Finance Ministry today notified new return forms Form No. 1 for corporate tax payers, Form No. 2 for non-corporate tax payers having business income, and Form No. 3 for non-corporate tax payers not having business income and Form No. 3B for fringe benefits.
Ms Kherawala said in order to enable the taxpayers to familiarise themselves with the new return forms and compile the information called for therein, the government has extended the due date for furnishing return of income and return of fringe benefits for assessment year 2006-07 from July 31, 2006 to October 31, 2006 in all cases of non-corporate taxpayers (including partners of the firms and charitable trusts and institutions).
By- Tribune News Service, 25/07/06
