RETURN BARING COMPANIES AND THOSE TO WHOM FILE IN ITR 7 HAS TO FILE ELECTRONICALLY IF INCOME EXCEEDS 5 LACS

Compulsory E Filing of return if Income Exceeds 5 Laks

By making amendments in the Rule 12 vide notification no 34 dated 1st May 2013 it has been made mandatory for a person(all the assessee's) other than a company and a person required to furnish the return in Form ITR-7 to file the return electronically if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds Five lakh rupees.

It is important to point it out over here that the companies are already under obligation to file its returns electronically under digital signatures irrespective of their income/losses

ITR 7 can be filed manually as per the existing rules.