20 September 2008
It is mandatory for Companies and Firms requiring statutory audit u/s 44AB to submit the Income tax returns electronically for AY 2007-08. Any Company/Firm requiring statutory audit u/s 44AB return submitted without a e-Filing receipt will not be accepted.
20 September 2008
The process of electronically filing Income tax returns through the internet is known as e-filing. It is mandatory for Companies and Firms requiring Section 44AB audit to submit the Income tax returns electronically for AY 2007-08. Any Company and Firm requiring Section 44AB audit return without an e-filing receipt will not be accepted. The Income Tax Department is keen to encourage efiling of IT returns by all taxpayers in view of the following benefits to taxpayers.
* Anywhere-Anytime Filing * No long queues * No Personnel Interface * Quick Processing * Accurate data in return
28 October 2008
**DM My answer is wrong. It was due to a mistaken understanding of Rule 12 of the Incometax rules,1962. The view of DM and Sekar is the correct answer.
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