Good response to e-filing of returns

Electronic filing of income tax returns by corporates has evoked a good response. The income tax department has received 2,88,471 electronic returns up to the due date of November 30.

The returns were filed through Form-01, which is a combined income tax and fringe benefit tax (FBT) return. The government had last year received 3,27,000 returns from corporates.

The electronic filing of I-T returns was made compulsory for corporate taxpayers this fiscal. The last date for filing electronic returns for corporate taxpayers was October 31, which was later extended by a month.

Some other categories of taxpayers, i.e. individuals, firms, Hindu undivided family (HUF) and trusts, for whom e-filing was optional also filed their returns electronically. The total number of electronic returns filed was 2,90,656, an official release said.

Meanwhile, the finance ministry's new initiative, Tax Return Preparers Scheme, has evoked a good response from graduates. As on November 30, the last date to apply for the post of tax preparers, the department received around 91,000 applications for 5,000 posts.