The Hindu Business Line : CBDT to amend e-return scheme

THE Central Board of Direct Taxes (CBDT) wants to enhance the scope of the existing scheme for electronic filing of returns of income. It has now decided to issue a revised scheme that would be applicable for assessment years 2004-05 and the following years.

The revenue department has come up with a draft version of the proposed scheme. An `eligible person' can, once the scheme is revised, opt for electronic filing of returns through an e-intermediary in any of the 60 cities that have been specified. Currently, the facility of e-filing of return of income is available only in seven cities.

The proposed revised scheme `Electronic Furnishing of Return of Income Scheme 2004' seeks to define an `eligible person' as a person who has been allotted a permanent account number (PAN) and who is assessed or assessable to tax in any of the specified cities.

Currently, the facility of electronic furnishing of returns is available to persons having income under the head `salaries' and not having any income under the head `profits and gains from business or profession' and who are assessed or assessable to tax from any of the seven specified cities (the four metros and Ahmedabad, Bangalore and Hyderabad).

A Finance Ministry official said that it has been decided that persons having income under the head `profits and gains from business or profession' too could opt for electronic filing of returns under the proposed revised scheme. Further, the definition of an e-intermediary is also to be expanded to include a firm of chartered accountants or advocates, chartered accountants and advocates.

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CBDT to amend e-return scheme