INDIA TO PROMOTE e-TAX FILING WITH DIGITAL SIGNATURES:
In order to make the process of e-filing of income tax more convenient, the Income Tax department has decided to introduce the facility of electronic signatures for taxpayers. The Central Board of Direct Taxes (CBDT), the apex office to formulate policies for the Income Tax department, has announced that the new mechanism will be in place by the end of the next financial year in March, 2015. Sources said that the CBDT has decided to hold discussions with Union Ministries of Law and Communications and Information Technology to take a legal view over this decision and talk about the technology requirements respectively before it operationalises this facility called ‘ITRV’. “It has to be seen what will be the procedure to obtain electronic or digital signature by the taxpayers. There should not be an additional cost or procedural burden for the taxpayer who opts to file his or her I-T return online,” a senior official said.