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Efiling of Income Tax Return made compulsory for Individuals

By : AMIT BAJAJ ADVOCATE on 14 July 2010 Report Abuse Print Print this
 



Efiling of Income Tax Return made compulsory for Individuals and HUFs who are covered under section 44AB

The Efiling of ITR 4 has been made compulsory by the Income Tax Department for the Assessment year 2010-11 for those individuals and HUFs who are required to get their accounts audited u/s 44AB of Income Tax Act by a notofication No.49/2010[F.No.142/15/2010-TPL], dated 9-7-2010.Earlier it was only Firms  who were liable to get their accounts audited u/s 44AB and the companies were compulsorly required to file their ITR online.


The companies filing their return of income in ITR 6  are now compulsorily required to file their return of Income online by digital signature only. Whereas the firms, individuals and HUFs covered u/s 44AB can file their return of income online both by using digital signature as well as without digital signature by sending duly signed ITR-V form (which is generated after efiling of return without digital signature) to the centralised processing centre at Bangalore.


The relevant notification issued by the Income Tax Department is reproduced hererbelow:

Income-tax (Seventh Amendment) Rules, 2010 – Amendment in rule 12
Notification No. 49/2010[F.No.142/15/2010-TPL], dated 9-7-2010
In exercise of the powers conferred by section 295 read with section 139 of Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely : –
1. (1) These rules may be called the Income-tax (7th Amendment) Rules, 2010.
(2) They shall come into force from the date of their publication in the Official Gazette.
2. In the Income-tax Rules 1962, in rule 12, in sub-rule (3), in the proviso, for clause (a), the following clauses shall be substituted, namely :-
“(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii);
(aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii);
(ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)’
 
 
AMIT BAJAJ ADVOCATE
EMAIL: amitbajajadvocate@hotmail.com
M 919815243335

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3 Comments for this Article



V D Shah

V D Shah

Wrote on 02 March 2012

Thanks, good article indeed!



Vijay Kumar

Vijay Kumar

Wrote on 28 September 2010

Sir, I need to know, whether the partner of a firm has to mandatorily e file his individual return, if such firm is under audit u/s 44AB. Please reply soon Sir, !its urgent...!



Rema

Rema

Wrote on 15 July 2010

Thanks. The timely information will certainly usful to all. Rema












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