India Introduces Electronic Signatures for Online Filing of Tax Returns

April 23, 2014 - PRLog -- (Bristol, UK) - The Income Tax Department of India has decided to modify the e-filing tax system to include electronic signatures. The new mechanism will allow taxpayers to submit their tax returns electronically, by affixing their digital IDs, instead of the current process of having to print, sign and send by post, a hard copy of e-filed return, reports Nair & Co.’s International Tax Services (http://www.nair-co.com/international-tax-compliance-services.aspx) Team.

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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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-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com

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