India Extends Deadline for Filing Income Tax Returns to August 31, 2012
India' Central Board of Direct Taxes (CBDT) has extended the due date for filing of tax returns by a month to August 31, 2012 due to the recent power grid failure that disrupted normal life in many parts of the country.
- (1888PressRelease) August 23, 2012 - Sunnyvale, CA - Individual taxpayers in India must file their tax returns before the re-scheduled date.
Individual Taxpayer and HUF (Hindu Undivided Family)
Individual Taxpayers or HUFs, with an annual income of more than Rs 10 lakh in the preceding year, must file returns electronically, for the assessment year 2012-13.
Businesses
Businesses with receipts of Rs 60 lakh or more, and professionals with an income of Rs 15 lakh or more must e-file their return with digital signature.
Non Resident Indians and Private Discretionary Trusts
Additionally, the CBDT, citing the limitations of the e-filing software, relaxed the obligatory e-filing of returns for agents of Non Resident Indians (NRIs) and 'private discretionary trusts'.
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