The Hindu Business Line : More time to file I-T returns in new form

New Delhi, Dec 15 Taxpayers who had filed their income-tax returns for assessment year 2007-08 under the old forms (such as saral Form 2D) instead of the notified ITR-1 to ITR-8 forms have some relief coming their way.

They can re-file their returns in the new forms on or before February 29, 2008 without paying any interest or penalty.

This comes even as the CBDT decided to treat returns filed under the old forms as “invalid returns” following the Supreme Court’s move on Friday to set aside the High Court order allowing IT returns filed in saral form instead of the new forms.

An official release said that the extension of due date would be applicable only to assesses who had filed the return for 2007-08 on or after May 14, 2007, in a form other than the notified one (ITR-1 to ITR-8).

The Centre had in May this year notified eight new forms under a new series (ITR-1 to ITR-8) to substitute the old forms like saral (Form 2D). The validity of the notification was challenged in various High Courts of the country.

The Allahabad High Court (Lucknow bench) had passed an interim order directing the income-tax authorities to accept returns filed in Form 2D (saral). The High Court of Rajasthan (Jodhpur bench) and High Court of Guwahati had also delivered similar judgements.

The income-tax department filed a special leave petition in the Supreme Court against the decision of the Allahabad High Court. The apex court on Friday set aside the Allahabad High Court’s interim order.