Millions of taxpayers filing returns online may no longer have to send paper documents to the central processing unit here, with 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 be 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 in Bengaluru.
The new measure, expected to be operational by September this financial year,
Citing the example of how electronic verification of online income tax returns is done in USA, Satyanarayana said amendment to the 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 to e-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 I-T department's central processing centre in Bengaluru.
In the other case, the tax payer is required to take a print-out of ITR-V and send it to the I-T department within 120 days of e-filing.