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Non-auditable firms can file tax returns up to October 31

Special Correspondent

2,000 post officers will be allowed to accept returns from July 26

NEW DELHI: The Central Board of Direct Taxes (CBDT) has extended the deadline for filing tax returns to October 31 from July 31, for those filing non-auditable accounts, but the salaried taxpayers will have to file returns by July 31.

Non-auditable accounts are furnished by those businesses which have an annual turnover of less than Rs. 40 lakh and professionals having income of less than Rs. 10 lakh. These include partners of firms and charitable trusts and institutions.

In addition, for the first time, 2,000 designated post offices in the country would be allowed to accept returns from July 26 onwards. This was disclosed here on Monday by CBDT chairperson M. H. Kherawala, who said information about the post offices would be available on the websites of both CBDT and postal authorities on Tuesday.

Addressing a press conference, Ms. Kherawala said the returns submitted in the post offices would have to be filed along with an envelope with details of the permanent account number (PAN) and the ward or circle number of the assessee written on it.

The envelope, she said, was meant to ensure that the annexures were not misplaced. Even after the July 31 deadline was over, she said the salaried taxpayers could continue to use the post office facility on delayed returns.

As for corporates having an annual turnover of at least Rs. 40 lakh and professionals with income of Rs. 10 lakh, the last date of filing returns stood at October 31. She said the salaried-class and those deriving income from properties and capital gains would have to file the returns by July 31 or pay the interest on taxes due on them.

She said the decision to extend the deadline had been taken because authorities had notified new tax return forms for corporate tax payers, non-corporate tax payers having business income and non-corporate tax payers not having business income and form for filing fringe benefit returns. The new forms, numbered 1, 2, 3, and 3B, respectively, could be filed electronically, she said.

"The new forms are comprehensively designed so as to do away with all kinds of attachments and facilitate electronic filing. The CBDT have also consulted the Institute of Chartered Accountants of India and have taken into account its suggestions in designing the forms,'' Ms. Kherawala said.

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