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Digital signatures must for e-returns of cos
By siliconindia
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Tuesday, 13 July 2010, 19:54 IST
New Delhi: The Central Board of Direct Taxes (CBDT) has regulated that all the electronically filed income-tax returns of companies should compulsorily have digital signatures.
The Income Tax Department no more accepts paper returns from companies. The returns have to be exclusively filed electronically. This rule has been in place since 2007-08 assessment year. However now, the protocol includes the inclusion of digital signatures as well.
The realm of electronic filing of returns has been extended by CBDT to include individuals and Hindu Undivided Families (HUF). However they can file their income-tax return with or without digital signature.
Aseem Chawla, Tax Partner, Amarchand & Mangaldas, said, "Such progressive measures should result in achieving better tax compliance coupled with efficient tax administration."