WIDENING OF TAX BASE: E - FILING OF RETURNS..

E-filing of income tax return is the process of electronically filing returns through internet which can be filed at any time at any place.

While e-Filing of Income Tax Return is mandatory for a company and a firm liable to audit under Section 44AB, it is optional for other assessees. Similarly, Government has introduced e-Filing of Returns of Tax Deducted at Source Scheme.

It has been mandatory for corporate deductors to furnish their TDS return in electronic form with effect from June 1, 2003. Further, it has been made mandatory for Government deductors and firms liable to audit under Section 44 AB with effect from A.Y. 2004-05.

Deductors have to file e-TDS returns quarterly since A.Y. 2005-06. National Securities Depository Ltd. (NSDL) has been appointed as the e-TDS intermediary by the Income Tax Department. NSDL receives e-TDS returns from deductors on behalf of Income Tax Department.

Deductors can submit e-TDS returns through TIN-Facilitation Centres established by NSDL or directly upload through NSDL web-site.

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