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Reveal Rs 2 lakh-plus cash deposits in new tax returns form

Reveal Rs 2 lakh-plus cash deposits in new tax returns form

Saturday, April 1, 2017, 8:52 AM

The I-T department on Friday unveiled a new tax return form, Sahaj, which will be effective from April 1 for individuals having an annual income of up to Rs.50 lakh. One-page simplified form makes it mandatory to disclose any cash deposits of more than Rs.2 lakh in bank accounts between November 9 and December 30, 2016, the period when demonetisation drive was in force.
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