E-returns with Digital signatures

July 14th, 2010| News.

E-returns with Digital signatures

Digital signatures

Income Tax Department has given strict instructions to corporate companies to file E-returns with digital signatures.  Till now it is allowed to file the e-returns of corporate companies without digital signatures.

IT department has given fresh instructions to file e- returns with digital signatures.  There is no need to verify the designator or the person who has signed the returns, physically.  This speeds up the process of Income Tax returns filing procedure.  I t has become mandatory for corporate companies to file e-returns from the assessment year of 2006-2007.  Hindu undivided families with annual business income of 40 lakhs (60 lakhs from the assessment year of 2011-12), professional income exceeding 10 lakhs, should audit their accounts but need not go for digital signatures.  But they should only file e-returns.  Last date for filing returns for the year 2010-11 is July 31.

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