The Central Board of Direct Taxes (CBDT) had notified the new norms that required an assessee to furnish all bank details, accounts opened or closed in the year with the closing balance, as also the sources of funds for expenses in an overseas travel.

The purpose of asking details relating to foreign travel, according to the finance minister was to tackle the menace of black money. He had further sought to justify the forms by saying fresh details were not required in forms filed by the majority of individual taxpayers.

The highlights of the new forms are:

- Individuals with income without any ceiling, other than agricultural income exceeding 5,000, can now file Form ITR 1 (Sahaj). Similar simplification for individuals and Hindu undivided families (HUFs) in respect of Form ITR 4S (Sugam).

- A new Form, ITR 2A, can be filed by individuals or HUFs who does not have capital gains, income from business or profession, or foreign asset and foreign income.

- In lieu of foreign travel details, only passport number, if available, would be required to be given in Forms ITR-2 and ITR-2A. Details of trips or expenditure thereon not required.

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