No ITR-V Required in Near Future: CBDT


The goods news for the lakhs of tax payers who are required to file return online and then has the botheration of sending the ITR-V to CPC Banglore. Media reports suggest that CBDT is seriously thinking to abolsih the whole practice of submission of ITR-V . Doing away the submission of ITR-V , Central Board of Direct Taxes (CBDT),tries to overcome the its recent system goof up because of which  lakhs of such ITR-V –did not reached its Central Processing Centre (CPC) despite people filing their e-returns online.This is govt’s efforts for  making e-filing  “hassle free and sans any glitches”, so as to  prompt more number of people to file their tax returns this way

So, in coming months , notification from CBDT is expected to make a change in the rules by which  taxpayers  may be allowed to file their returns online will without the  need to send ITR-V through post to the Bangalore office. They will also not be required to take digital signature.It is however not at all understood how without digital signature or paper verification , the chance of fake return can be dealt with.