Online taxpayers may not need to send papers to CPC in Bangalore

Online taxpayers may not need to send papers to CPC in Bangalore, Online Tax Payment 2013 Paper Work, Send Details to Banglore CPC

MILLIONS of taxpayers filing returns online may no longer have to send paper documents to the central processing unit here, with the CBDT proposing to introduce electronic verification for such filings, a top official said.

"It (introduction of electronic verification of online Income-Tax returns) is in very advanced stage. Some clearances, some approvals have to he taken. Amendments to the Information Technology Act will be required. Then it will go to Parliament." Chief Commissioner of Income Tax Bangalore-1. K Satyanarayana told reporters here.

The new measure, expected to be operational by September this financial year, would save taxpayers the hassle of sending paper documents by post and tracking its acknowledgement, he added.

Citing the example of how electronic verification of online Income-Tax returns was done in the USA. Satyanarayana said amendment 10 (he Information Technology Act would be needed to introduce electronic verification of online Income-Tax returns in India.

At present, two options are available for taxpayers toe-file ITR. either e-file ITR by affixing digital signature or without affixing digital signature. If the digital signatures are affixed, there is no need to send ITR-V to the l-T Department's Central Processing Centre (CPC) in Bangalore. In the other case, ilie taxpayer is required to take a print-out of ITR-V and send it to the I-T Department within 120 days of e-filing.

As per the Information Technology Act. a digital signature is equivalent of a physical signature. So. anyone filing returns electronically with digital signature need not send ITR returns form for physical verification. In 2012-13. a 31 per cent jump was seen in e-filings with 2.14 crore assessees filing returns online as compared to 1.64 crore in 2011 -12.