This new e-return protocol, known as ITRV, is intended to be implemented by the end of March 2015.
However, before the new mechanism is fully functional, it is necessary for the Central Board of Direct Taxes (CBDT) to discuss with the Union ministries of law and communications and information technology and determine the legal position and technology requirements.
Nair & Co.’s advises entities responsible for submitting tax returns in India to follow the progress of this proposal as the new system will most likely ease the tax filing process.
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About Nair & Co.
Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-
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