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No relief for salaried class for filing returns
July, 25th 2006

The tax department has extended the deadline for filing tax returns to October 31 from July 31, for those filing non-auditable accounts.

Non-auditable accounts are furnished by those businesses which have annual turnover of up to Rs 40 lakh per annum and those professionals having income up to Rs 10 lakh per annum.

However, the salaried class and those deriving income from properties and capital gains will have to file returns by July 31 or pay the interest on taxes due on them, said the Central Board of Direct Taxes (CBDT) Chairperson M H Kherawala.

The decision has been taken because the CBDT notified new forms for corporate tax payers, non-corporate tax payers having business income, non-corporate tax payers not having business income and form for filing fringe benefit tax.

From July 26 onwards tax payers including salaried class would also be allowed for the first time to file tax returns in 1,000 designated post offices in the country.

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