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Understanding Taxes

Due Date for E-Filing Tax Returns Extended upto 31st August, 2012

 

 

The Central Board of Direct Taxes (CBDT) has extended the deadline for E-Filing Income tax returns to up to 31st August, 2012. The move comes as a result of the recent massive power outage in the northern and eastern parts of the country.

From the Financial Year 2011-12 (Assessment Year 2012-13), the CBDT has made it mandatory for individuals and Hindu Undivided Families (HUFs) with income above INR 10 lakh per annum to file income tax returns electronically. With the recent disturbance of general life caused due to failure of power and further in consideration of the fact that the E-Filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes (CBDT) has extended the ‘due date’ of filing of returns of income for the Financial Year 2011-12 (Assessment Year 2012-13) to 31st August 2012.

However, it will not be compulsory for agents of non-residents and private discretionary trusts to electronically furnish the returns of non-residents for Assessment Year 2012-13 even in cases where their total income exceeds INR 10 lakhs per annum.

 

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Published Aug 09 2012




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