e-filing of tax return compulsory for Individuals & HUF from Asst Yr 2010-11

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Income Tax Rule has been amended by notificationno 49/2010 to compel two new classes of tax payers to file income tax return compulsorily online only. These are – Individuals or HUF having turnover exceeding Rs 40 Lakhs (4 million ) or if the individuals or firm is having professional income , then turnover is exceeding Rs 10 lalks .