Friday, July 27, 2007

I-T Returns Through Post Offices Withdrawn

The government has withdrawn the facility for taxpayers to submit income tax returns through post offices, which was introduced last year, and assesses must file returns by July 31.

The decision to accept I-T returns through post offices has been withdrawn, which was taken last year due to extraordinary circumstances of threat of strike by income tax employees, a senior Income Tax official said.

The last date for filing income tax returns is July 31 for salaried individuals, self-employed, small enterprises with a turnover of less than Rs 40 lakh and professionals with receipts of less than Rs 10 lakh a year.

Though tax payers are advised to submit their returns by July 31, but in certain unavoidable circumstances they can submit returns till March 31 provided they have deposited all due taxes, the official said.

However, technically, they can still get a show cause notice from assessing officers, asking why action should not be taken against them for not submitting returns.

No comments: