‘Sugam’ Return Form to Simplify Life for India’s Tax Payers
Apr. 18 – The Union Budget 2011-12 has planned a singular prominence on reducing the compliance burden of small tax payers by projecting a simplified return form called “Sugam.” The finance minister of India, while presenting the Budget, said that the small tax payers who fall within the scope of presumptive taxation can utilize the new simplified form.
Sugam is currently being assessed by the law ministry. It would make the life of tax payers easy and compact.
Saral II for the salaried tax payers has been successful and has received good feedback. It is the most simplified version of tax returns for the individual tax payers.
To speedily solve the cases related to taxes by the settlement commission, three more branches of the commission are being set up.
The finance minister further said in a statement that the concentration is on reducing legal hassles and focus on revenue cases. Directions have been issued by the finance ministry to raise the limit of tax effects below which the tax related cases will not be attended in tax tribunals.
Projects under Aaykar Seva Kendras (ASKs) under CBDT have already been established. Now eight more projects will be commenced under CBDT in the year 2011. Fifty more projects of ASKs have been planned by CBDT for the financial year 2011-12.
Currently, the centralized processing center (CPC) at Bangalore has a capacity of processing INR20,000 to INR150,000 return in 2010-11. Now two more CPCs will be functional in Pune and Manesar by May 2011 and the next CPC will be coming up in Kolkata in 2011-12.
According to the finance minister, an independent web based scheme to permit a direct, stand alone interface for tax payers will be introduced by CBDT. With the help of this, scheme tax payers can trail their refunds and credit for pre paid taxes.
- Previous Article India Issues Tax Benefits for Garment Companies
- Next Article India Exempts Visa Facilitators from Service Tax