Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines »
Open DEMAT Account in 24 hrs
 How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)
 Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning
 What Are 5 Heads Of Income Tax?
 Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals
  Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Why you need not rush to file your ITR immediately
 Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing
 Section 80DDB tax benefits for specified illnesses: 5 things to know
 Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes
 ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal

Companies take to e-filing returns in a big way
December, 01st 2006

E-filing has come to stay says Chidambaram

Corporate India has adopted e-filing of income-tax returns in a big way despite the initial reluctance from certain quarters.

The number of returns filed electronically by corporates till Thursday evening stood at 2,72,949, a Central Board of Direct Taxes (CBDT) spokesperson said. The due date for filing of income-tax returns by corporates was November 30. The revenue department had, for assessment year 2006-07, made it mandatory for all corporates to undertake e-filing of their income-tax returns.

Last year, as on October 31, which was the due date for filing of returns by companies, the revenue department received 2.2-lakh paper-based returns (including 15,000 from Gujarat). "Before July 24 this year, when e-filing was made mandatory, the department had already received 25,000 paper returns. If we add this to the 2.73-lakh returns (which includes 2,000 returns from Gujarat) that have been e-filed, the total number of returns stood at 2.98 lakh," the CBDT official said.

The official also pointed out that the Finance Ministry has extended the due date for filing of income-tax returns by companies in Gujarat to December 31, 2006.

Meanwhile, the Union Finance Minister, Mr P. Chidambaram, said on Thursday that the Government was slowly but surely moving to a technology-driven tax administration.

"There would be some pain in adjusting to the technology-driven tax administration. In the long run, it will benefit taxpayers and reduce the discretion of tax collectors. It will also increase tax revenues that are vital for development. E-filing has come to stay," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting