e-Governance

e-filing must for those earnings above Rs 10 lakh

Views: 247

The Central Board of Direct Taxes has widened the scope of mandatory e-filing of income-tax returns according to which any individual or a Hindu Undivided Family (HUF) with total income exceeding Rs 10 lakh in a financial year will have to e-file tax returns.

The norm will also apply to an individual or a HUF, being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India.

 The mandatory e-filing norm will apply for assessment year 2012-13 and subsequent years.

However, digital signature will not be mandatory for these taxpayers.

 They can also transmit the data in the return electronically and thereafter submit the verification of the return in Form ITR-V, according to CBDT.

Comments

comments

Click to comment

Leave a Reply

Your email address will not be published.

Latest News

To Top