- The main correction required in Acknowledgement of Income Tax Return is introduction of column for declaring exempted or agricultural income. I am a CA practicing in Nawanshahr a semi rural area of Punjab. Many of my clients are having agricultural income in addition to non agricultural one, but due to non availability of column showing agricultural income in acknowledgement it creates many difficulties.
- The another change required is the system of efilling of returns, the ITR V generated through the system should be acknowledged by the local Income Tax office as many times the end users like banks, financial institutions and for abroad cases the High Commissions of different countries do not accept the unstamped/unacknowledged ITR V. The suggested system is that one copy of ITR V should be send directly to CPC Bangalore and another one may be got acknowledged at local office.
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