The government has extended the last date for filing of income tax returns for 2011-12 by a month. The Central Board of Direct Taxes (CBDT) has extended the ‘due date’ of filing of all returns for the Assessment Year 2012-13 to August 31, 2012. The last date of filing of returns was July 31,2012.

The board has also relaxed the compulsory e-filing of returns for representative assessees of non-residents and in the case of private discretionary trusts, if the total income exceeds Rs. 10 lakh. Considering the difficulties faced by agents of non-residents in electronically furnishing the returns, due to more than one agent for different transactions or a person in India may be an agent of more than one non-resident, now e-filing is no more mandatory for this category.

Salaried employees earning up to Rs 5 lakh a year need not file income tax returns from this year provided the total income of the employee does not exceed Rs 5 lakh and also the annual interest earned from savings bank account must be less than Rs 10,000. But in case one wishes to claim the tax refund then filing of return is necessary. The e-filing of returns for Hindu Undivided Family (HUF) has been made mandatory.

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