FinMin notifies Sahaj & Sugam I-T return forms

He also said efforts were being made to facilitate electronic filing through Sahaj and Sugam I-T return forms. He added that would also notify a provision in early June exempting salaried income group of up to Rs 5 lakh from filing returns.

However,they will have to file return if they seek refund. While Sahaj is for salaried people,Sugam return form is applicable for small businessmen and professionals covered under presumptive taxation.

Under India’s presumptive taxation,person carrying on business will not be required to get his accounts audited if the annual total sales,turnover or gross receipts is less than Rs 60 lakh.