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CBDT norms for filing I-T returns
July, 13th 2010

The Central Board of Direct Taxes (CBDT) has made it mandatory for all companies to file their income tax returns electronically in Form No. ITR-6, with digital signature.

Earlier, companies could file their electronic returns with or without digital signature.

According to an official statement here on Monday, this follows the amendment of rules relating to electronic filing of I-T returns through a notification (No.49/2010) dated July 9, 2010. The amended Rules will apply with effect from the date of notification in the official gazette, the CBDT said.

Further, all individuals and Hindu Undivided Families (HUFs), who are required to get their accounts audited under section 44AB of the I-T Act 1961, are now required to file their tax returns in Form No. ITR-4 electronically, with or without digital signature. Earlier, this condition was applicable only to companies and partnership firms.

Accounts are required to be audited under the law, if turnover or gross receipts from business exceeds Rs. 40 lakh (Rs. 60 lakh from assessment year 2011-12 onwards), or if turnover or gross receipts from profession exceeds Rs. 10 lakh (Rs. 15 lakh from assessment year 2011-12 onwards), the CBDT said.

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