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INCOME TAX(14-Jul-10)

Now firms can only e-file I-T returns
Delhi : The Finance Ministry made it mandatory for all companies to file income tax returns electronically with digital signatures, a move that will facilitate faster filing of I-T returns by India Inc. However, digital signatures will not be mandatory for individuals and Hindu undivided families (HUFs) whose business income exceeds Rs 40 lakh or professional income is over Rs 10 lakh annually


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