Digital Signatures Now Mandatory for Companies Filing Returns

It has now become compulsory for companies to use digital signatures for filing their returns. Till now, firms could file the returns even without the digital signature. Filing returns electronically has been made mandatory also for the individuals whose accounts, under the I-T Act, have to be audited.
Under the income tax law, accounts have to be audited if the turnover or the gross receipt from a business are more than Rs. 40 lakhs (Rs.60 lakhs 2011-12 onwards), or, if the turnover or the gross receipt from any profession is more than Rs.10 lakhs (Rs.15 lakhs 2011-12 onwards).
The Central Board of Direct Taxes (CBDT) has made an amendment in the rules relating to ‘electronic filing of tax returns vides Notification No.49/2010 dated 9th July 2010’. These changed rules will apply with effect from the date when they’re notified in the official gazette.
Commissioner of income tax, Central Processing Centre (CPC), Sanjay Verma said that the date when one can collect forms for filing tax, Sugam (for small businessmen and professionals) and Sahaj (for salaried people) will also be announced soon. These forms will cost Rs 5. Also, one will be able to view the status of his tax refunds online.