Action Points

Income tax return form for non-corporate assessees other than persons claiming exemption under Section 11.

1. This Form, popularly known as 'SARAL' is to be used with effect from the assessment year
   1998-99, by assessees, other than companies and persons who are claiming exemption under Section 11.
2. Assessees who are normally required to file the return of income in form no. 2 or form no. 2A or form no. 3 have the option to file the return in this simplified form.
3. The return must be filed before the due date specified in the "Action Points" under form no. 2A.
4. This form must not be used by persons who are required to file the return in form no. 2C, i.e., persons who are not furnishing the return under Section 139(1) but are residing in notified areas and satisfy at least one of the six specified economic indicators.
5. The instructions appended to the form elaborately explain the procedure for filling up the form, and they may be referred to.
6. If the income under business, profession, or capital gain, or house property is a loss, the return must be filed within the prescribed date; otherwise the benefit of carry forward of loss will not be admissible.
7. It must be ensured that all the information required to be furnished, as well as the documents required to be attached, is furnished in a complete manner; if any particulars are omitted, resulting in income escaping assessment, the assessing officer has the power to reopen the assessment under Section 147, even after the regular assessment is completed.
8. There is no acknowledgement slip for this Form. The form is required to be filed in duplicate (with all items filled in capital letters). One copy will be returned to the assessee duly acknowledged. This duplicate copy must be carefully preserved.
9. Regarding signing and verification of the return, refer to paras 10 and 11 of action points under form no. 2.
10. If any refund is due, the assessee must ensure that particulars of his bank account are furnished separately.