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Mandatory e-filing returns for income above Rs 5 lakh

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The government has made it mandatory for all taxpayers with annual income of more than Rs.5 lakh to file returns in electronic form.

"Income tax returns for the group above Rs.5 lakh will have to be e-filed. This is a move towards using technology so that the interface between the assessing officer and the assessee is minimised," revenue secretary Sumit Bose said at an event organised by the Federation of Indian Chambers of Commerce and Industry here on Tuesday.

"The Income Tax Department is making all efforts to widen the tax base and is already in the process of identifying PAN holders who have not filed returns and those who are defaulters," Bose added.

The government had last year introduced the system of e-filing for assessees with an annual income of Rs.10 lakh and above.

Source: http://www.indianexpress.com/news/mandatory-efiling-returns-for-income-above-rs-5-lakh/1083644/

http://indiatoday.intoday.in/story/e-filing-for-income-above-rs-5-lakh-compulsory-taxpayers/1/256663.html


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