People with income of ten lakh rupees per annum will have to file their tax returns electronically beginning 2011-12 Financial year . The Central Board of Direct Taxes has issued a notification making E-filing compulsory for assessment year 2012-13 onwards for an individual or a Hindu undivided family if his or its total income exceeds ten lakh rupees. However, digital signature will not be mandatory for these tax payers. E-filing for such assesses was optional till 2010-11. A Finance Ministry statement said that the Income Tax Department had received record 1.64 crore E-returns in 2011-12 financial year.
News On AIR | July 3, 2012 12:42 PM
E-filing returns compulsory if income exceeds ten lakh rupees