Centre may simplify income tax filing rules

TO REDUCE DISPUTES AND IMPROVE COMPLIANCE

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The Central government is likely to simplify its income tax filing process as part of efforts to reduce disputes and ease the burden on taxpayers. A proposed overhaul of the Income-tax Act of 1961 is currently being finalized and is expected to be released for public consultation by mid-January, sources familiar with the matter said. The revised legislation will be presented as part of the government's budget in early February.