Corporate sector in India has adopted e-Filing of income-tax returns in a big way.
There were initial reluctance from certain quarters. Number of returns filed electronically by corporates till Nov 30, 2006 evening stood at 2,72,949, according to a Central Board of Direct Taxes (CBDT) spokesperson. The due date for filing of income-tax returns by corporates was November 30 this year. The revenue department made it mandatory for assessment year 2006-07, for all corporates to undertake e-filing of their income-tax returns. In 2005, as on October 31, which was the due date for filing of returns by companies, the revenue department received 2.2-lakh paper-based returns. The Union Finance Minister, Mr P. Chidambaram has said that the Government was slowly but surely moving to a technology-driven tax administration.