Thursday, September 15, 2011

IT RETURNS: CBDT WIDENS SCOPE FOR E- FILING UNDER DIGITAL SIGNATURE

The Central Board Of Direct Taxes (CBDT) has said that partnership firms, individuals and hindu undivided family (HUF's) subjected to mandatory tax audits will now be required to file their income tax (IT) returns only electronically and that too under digital signature. This regime would be applicable for assessment years 2011-12 and subsequent years. Hitherto, such assesses had an option to file their income tax returns either electronically under digital signature or transmit the data electronically and also physically file a supplementary return . Now this option has been done away with and all income tax returns of such assessees would have to be filed electronically under digital signature.

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