Companies Now Required to Electronically File Income Tax Returns with Digital Signatures
Jul. 14 – Companies are required to file their income tax returns electronically with a digital signature by July 31 according to an announcement made by the Central Board of Direct Taxes (CBDT) last Monday.
Form No ITR-6 must be submitted with digital signatures as opposed to an earlier regulation that accepted forms without digital signatures. Filing returns electronically has also been made compulsory for individuals whose accounts must be audited under the Income Tax Act, with or without a digital signature.
“Now all individuals and the Hindu undivided families, who are required to get their accounts audited…are also required to file their income tax returns electronically with or without digital signatures,” the CBDT release said.
Accounts must be audited under the income tax law when business gross receipts amounts to more than Rs. 400,000 a year.
Doctors, lawyers, chartered accountants and other professionals earning more than Rs. 100,000 in gross receipts annually must also file their income tax returns electronically.
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