TIOL-DDT 414 · Wednesday, 26 July 2006 · story 3 of 8

Saral is really saral, confirms minister

S.S. Palanimanickam, Minister of State in the Ministry of Finance informed the Rajya Sabha:-

++ the new Form 2F is essentially an expanded version of the existing Naya Saral so as to provide more space to fill out the details.

++ the cash flow statement in Form 2F is intended to protect the salaried taxpayers from any intrusive investigation.

++ In any case, a salaried taxpayer has the option of filling Form 2F or the Naya Saral.

++ This option is available upto 31st July, 2006 which is the due date for filling the tax return.

++ Further, even where a person chooses to file Form 2F, he has the option of not filling out the cash flow statement.