Efiling of Income Tax Return made compulsory for Individuals

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

 

Published in Taxation
Views : 5974









web analytics