The Bharatiya Janata Party (BJP) on Saturday welcomed the government's move to review the new Income Tax Return (ITR) Forms that require disclosure of details regarding the bank accounts and foreign trips undertaken by an individual.
BJP spokesperson Sambit Patra said Prime Minister Narendra Modi-led government at the Centre has always been saying that all procedures need to be simplified and especially the practice of red-tapism needs to be done away with.
"There was also a need for the simplification of the ITR form, which the government has undertaken. It is a welcoming step," he added.
Responding to a poser on whether there would be ease in the revenue generation, Patra said naturally there will be in every sphere.
"We saw even in labour reforms how a form which was 16 pages long was simplified. Similarly, even the ITR form has been simplified. This is a convenient move and people will not find it difficult to fill the form. After having discussions over this topic with tax experts, the government has accepted the move," he added.
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Earlier in the day, Revenue Secretary Shaktikanta Das said the main motive behind broadening Income Tax returns coverage was to track unaccounted cash transactions and generation of black money.
"Considering the difficulties expressed by cross section of tax payers, a decision was taken to review ITR forms," Das told ANI.
"This was one of the recommendations of the SIT on black money," he said, adding that Finance Minister Arun Jaitley took the decision in this regard after a telephonic conversation with him from the United States.
The Central Board of Direct Taxes, which is the apex policy making body of the IT Department, had earlier made some additions to the existing format as part of obtaining new information to check the menace of black money.
