Tax payers can rejoice as the government has decided to do away with the painful Form 2F for filing income-tax returns. However, the IT department is going to implement yet another “new, simplified and user-friendly tax return form”.

There was a hue and cry over the Form 2F which expected tax-payers to enter details of cashflows during the year, and the new form is likely to ask for this information in a more simple manner.

Till then, we can only wait and watch.

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