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New Delhi, Sept. 3 Tax audit assessees and entities with deductee records of more than 50 would now be required to electronically file their quarterly tax deducted at source (TDS)/tax collected at source (TCS) returns with the tax department.

The Finance Ministry has expanded the scope of mandatory filing of quarterly TDS/TCS returns in electronic format.

Prior to the latest move, government offices and corporates were the only two categories that were required to file their quarterly TDS/TCS returns electronically.

An official release said that the new norms have come into effect from September 1. Accordingly, quarterly statement for the quarter ended September 30 should be mandatorily filed in electronic format by all tax audit assessees and those with deductee records of more than 50.

More Stories on : Income Tax | E-Governance

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