CBDT notify 8 IT return forms for FY08-09

New Delhi, Mar 30 (UNI) The Central Board of Direct Taxes (CBDT) today notified eight return forms for various categories of tax-payers for filing Income Tax returns for the assessment year 2008-09.

The board has urged the tax payers to submit the tax forms online, through the e-filing facility.

The IT Return has to be filed by using the applicable form without any annexure (except for Form ITR-7) so as to facilitate electronic filing.

Electronic filing of returns for assessment year 2008-09 is made compulsory for corporate tax-payers and for firms liable to tax audit u/s 44AB, it said in a notification.

''Such tax-payers may either file their return electronically under digital signature or may transmit the data of the return electronically and thereafter submit a one page verification Form which contains a summary of the return transmitted electronically,'' the CBDT said.

E-filing initiative of the department has been received well, as out of the 20 lakh E-Returns filed for the fiscal 2007-08, more than 64 per cent have been filed voluntarily by the tax payers.

In terms of the taxes paid, these returns account for over 65 per cent of total taxes collected, it added.

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