Thru the budget in 2016 a tax if 10% on share dividend income exceeding rs. 10 lakhs became operational from ay 1917-18. For this purpose, the it department requires us to fill itr-2, which is very complex, and has plenty of faults. Its 6-th revision was made available on july 26, but it has more problems than verison 5. I had written to efilinghelpdesk on july 20 pointing out the problems with version 5. Version 6 is worse than version 5.
Meanwhile, the final date for payment of the tax due on large share dividends is due to expire on july 31. So we cannot pay the amount due as this does not show up on the form.
A large percentage of people who fall under this probably are seniors who have no other tax liability. This could have been added to the sahaj form that we are used to filing, by just a few rows below where we have to declare income from other sources. But the it dept has chosen to take this onerous route.
We need (1) an extension of the due date, and (2) a less onerous way of filing the return. Was this information helpful? |
Post your Comment