Those earning more than 50 Lakh, annually, must file New ITR

Those earning more than 50 Lakh, annually, must file New ITR

New Delhi: Now the people who earns over the Fifty lakh rupees per year and also having the pleasure of owning a yacht, aircraft or valuable jewellery are to disclose such expensive assets with the Income- Tax department, notifying a new set of Income Tax Return forms for the Assessment year 2016- 2017. And it is notably, from today itself, the fling of the new forms will be started with the onset of the new financial year. Moreover, the decision is being published by the Finance Ministry, in the official…

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