sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 New direct tax code may have to wait until 2019
 New direct tax code may have to wait until 2019
 New direct tax code may have to wait until 2019
 New direct tax code may have to wait until 2019
 How to use your Form 16
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19

No more filing returns at post offices
July, 10th 2007
The income tax department is planning to withdraw a facility introduced last year for filing tax returns at around 2,000 post offices, owing to incomplete and inaccurate returns. Nearly 350,000 returns were filed through post offices last year.
 
Many returns did not even contain the permanent account number and circle name and had a branch code number instead of the banks MICR (magnetic ink character recognition) code, said a revenue department official, confirming the move.
 
This has meant virtually none of the 350,000 returns could be processed. Though the department tried, it could not process the returns. The lack of exposure of post office staff to spot inaccuracies meant they could not reject the returns, the official added.
 
We are in discussion with the income tax department (on the issue). But no decision has been taken so far, a postal department official said, when contacted.
 
According to the income tax official, however, the income tax department is awaiting clearance from higher authorities since the decision involves another government department and public interest.
 
With the July 31 deadline approaching for filing returns by salaried individuals, the self-employed, small enterprises with a turnover of less than Rs 40 lakh and professionals with receipts of less than Rs 10 lakh a year, the withdrawal of the post office filing facility may result in large queues in front of income tax offices and special counters.
 
About 12.6 million returns were received up to July 31 in 2006, an increase of 37 per cent over the same period in 2005. Some 1.8-2 million more returns are expected to be filed this year.
 
Meanwhile, the income tax department will soon extend the refund banker scheme beyond Delhi and Patna to Mumbai, Chennai and Bangalore.
 
It is also launching a taxpayers education programme to guide taxpayers on how to file returns on the new forms notified recently. The web-enabled English and Hindi versions will also be available on the website www.incometaxindia.gov.in.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions