I-T form rules could prove troublesome to taxpayers

The latest income tax return Form 2F could unintentionally prove to be more of a hassle for taxpayers. While the form clearly states that no TDS certificate, proof of advance tax or self-assessment tax is required to be enclosed, there has been no concurrent change in the tax laws, which continue to require "production of certificate" for obtaining TDS credit.

The new form states that "all documents and other evidences in support of the computation of the tax payable and the tax paid should be retained by the assessee for verification by the tax authorities, if necessary."

Tax experts, however, point out that despite the new form only requiring details of the TDS certificate rather than its physical attachment, the assessing officer could treat the return as defective if it was being processed for TDS credit.

Finance ministry officials said the new form did not require TDS certificate since the intention was to encourage taxpayers to file the returns in electronic format.