SECTION 139 OF THE INCOME – TAX ACT, 1961 – RETURN OF INCOME – GENERAL – MANDATORY FILING OF INCOME-TAX RETURNS ELECTRONICALLY IN FORM NO. ITR-6 WITH DIGITAL SIGNATURE BY ALL COMPANIES

PRESS RELEASE NO. 402/92/2006 – MC (35 OF 2010), DATED 12-7-2010

The Central Board of Direct Taxes (CBDT) has amended the Rules relating to electronic filing of Income-tax returns videNotification No. 49/2010, dated 9th July, 2010. The amended Rules will apply with effect from the date of notification in the Official Gazette.

As per the amended Rules, it is now mandatory for all companies to file Income-tax return electronically in Form No. ITR-6 with digital signature, Earlier, companies could file their electronic returns with or without digital signature.

Further, now all individuals and Hindu Undivided Families (HUFs), who are required to get their accounts audited under section 44AB of the Income-tax Act, 1961, are also required to file their Income-tax return in Form No. ITR-4 electronically with or without digital signature. Earlier, this condition was applicable only to companies and partnership firms.

Accounts are required to be audited under the Income-tax law, if turnover or gross receipts from business exceeds Rs. 40 lakh (Rs. 60 lakh from assessment year 2011-12 onwards), or if turnover or gross receipts from profession exceeds Rs. 10 lakh (Rs. 15 lakh from assessment year 2011-12 onwards).