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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