Income tax department notifies return forms for firms

New Delhi, August 2: The Central Board of Direct Taxes (CBDT) has notified tax returns forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession for 2015-16. “E-filing of ITR 3,4,7 has been ebled, and for ITR 5 and 6, it will be available shortly,” the CBDT said in a statement earlier this week. These forms are used by non-salaried entities to file income tax returns. As per the notification, companies and firms filing returns under ITR-5 and 6 would be required to specify whether they are foreign institutiol investors (FII) or foreign portfolio investors (FPIs) and will have to provide market regulator Sebi’s registration numbers. The government earlier notified ITR forms 1 (Sahaj), 2, 2A and 4S (Sugam) for 2015-16. These are used for filing income tax returns by salaried individuals. In a move last month, to facilitate taxpayers through e-ebled services, the fince ministry said the income tax return for 2015-16 can now be verified electronically. “A taxpayer may verify his return through internet banking or through the Aadhar-based authentication process,” it said in a statement. “Persons using this facility will not be required to submit a signed paper copy of ITR-Verification form (ITR-V) to CPC Bengaluru,” it added.  (IANS)