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36,262 companies take e-filing route for returns
November, 02nd 2006

The income-tax department has till date received 36,262 corporate returns through the e-filing route (Internet), its spokesperson, Mr A.K. Sinha, has said. Companies are necessarily required to furnish the return for assessment year 2006-07 electronically to the income-tax department. They were earlier required to file their returns by October 31.

Till October 24, the date on which the due date for filing of return was extended to November 30, the income-tax department had received 23,000 e-filed returns from corporates (as against 53,000 on October 24, 2005).

Admitting that there were some glitches in the software launched by

the tax department to enable e-filing of returns, Mr Sinha said that they have been corrected. "They were only minor hitches, which has been sorted out. No body can come up with a fool-proof system. The tax department is no exception", he said.

He, however, agreed that it does take time and effort for the corporates to key in their data in the computer. "They would take more time as trust has been reposed more on them. All data on TDS certificates have to be entered by them. Unlike the past, we will go by what data they submit. We are not insisting on the original TDS certificates anymore. Previously, if you filed a photocopy of TDS certificates, no credit used to be given", Mr Sinha said.

As on October 31 2005, the income-tax department had received 2,13,000 returns from corporates (paper returns). In all about 3.76 lakh corporate returns were filed up to March 31, 2006.

Meanwhile, Mr Sinha said that the tax department would continue to receive returns from corporates even after November 30. He, however, pointed out that those corporates filing returns after the due date would not be eligible for certain benefits (for instance companies that have incurred losses would have to file their return on time or else they would not be able to carry forward their losses).

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