This will be applicable from assessment year 2011-12 onwards. Means that the salaried persons eligible under the scheme would not have to file returns for the financial year 2010-11 in 2011-12 (assessment year).
Under the scheme, those salaried persons who want to claim tax refund, would have have to income tax file return.
Tax payers with annual income of up to Rs 5 lakhs will not be required to file returns, a move that will provide relief to about 70 to 80 lakh people.
In the scenario, the Form 16 issued to salaried employees will be treated as income tax return. At present, it is obligatory for all salaried persons to file income tax return under the Income Tax Act, 1961.
While Sahaj is for salaried people, Sugam return form is applicable for small businessmen and professionals covered under presumptive taxation.