The Central Board of Direct Taxes (CBDT) has extended the due date for filing income tax returns for assessment year 2012-13 to August 31, 2012, in respect of assesses who are liable to file such returns by July 31, 2012.
This has been done in response to the disruption caused by the recent power failure across northern India, in light of the fact that e-filing of returns for a specified category of individuals and Hindu Undivided Families has been made obligatory.
The CBDT has made e-filing compulsory for an individual or a Hindu Undivided Family if total income exceeds INR10 lakh (INR1 million).
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
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