E-filing of I-T returns to become easier

Filing income-tax returns electronically is set to become easier, with the I-T Department planning to do away with the mandatory submission of verification in paper form. At present, returns filed online without a ‘digital signature’ — a secure certificate that confirms the identity of the sender — require a verification form, ‘ITR V’, to be sent in physical form by post to the Department’s Central Processing Centre (CPC). The CPC, then, generates an electronic acknowledgement and sends it to the registered e-mail address in the returns. The Income-Tax Department says one in 10 assessees fails to send the ITR V to the CPC after e-filing. The Income-Tax Department had made e-filing mandatory for those with an annual taxable income of Rs 5 lakh or more for the financial year 2012-13 and assessment year 2013-14, for which returns are to be filed by July 31. In 2012-13, over 2.14 crore assessees filed the returns electronically.

Source : http://www.thehindubusinessline.com/features/taxation-and-accounts/efiling-of-it-returns-to-become-easier/article4766649.ece?homepage=true