Economy

Pay tax and be ‘sugam'

Parvatha Vardhini C BL Research Bureau | Updated on February 28, 2011

tax filing

If you are a salaried taxpayer, you can look forward to fewer sleepless nights because of the taxman. The Central Board of Direct taxes is expected to notify a new category of people who will not be required to file a return of income at all, if their employer has deducted tax at source. Besides this, small taxpayers may also be able to file a simplified ‘Sugam' form, especially those in the business of plying or hiring goods carriers and those into trading of goods/merchandise.

For the not-so-lucky ones, e-governance initiatives may help us avoid long queues at the tax office. Electronic filing has made life easier for us. It has helped many who travel abroad to file their returns on time. Intermediaries (return preparers) now store our income and tax records, freeing us of the burden of storing dog-eared files and papers.

Published on February 28, 2011

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