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Amendment in the provisions for filing of return of income.

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..... Amendment in the provisions for filing of return of income. - News and Press Release Dated:- 3-4-2012 - News - Amendment in the provisions for filing of return of income (1) An individual or HUF must file the return of income electronically for the previous year 2011-12 and subsequent previous year if his/its total income exceeds Rs. 10 lakhs. (2) A resident Individual or a resident HUF .....

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..... must file the return of income electronically for the previous year 2011-12 and subsequent previous year, if he/it has: ( a ) assets (including financial interest in any entity) located outside India; or ( b ) signing authority in any account located outside India. (3) The prescribed ITR Form SAHAJ ITR 1 cannot be used by a resident Individual to file his return of income, if he has: .....

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..... ( a ) assets (including financial interest in any entity) located outside India; or ( b ) signing authority in any account located outside India. (4) The Form SUGAM ITR 4S , prescribed in the case of an individual or a HUF deriving business income and such income is computed in accordance with special provisions referred to in section 44AD and section 44AE of the Act, cannot be used by .....

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..... a resident Individual or a resident HUF to file the return of income, if he/it has: ( a ) assets (including financial interest in any entity) located outside India; or ( b ) signing authority in any account located outside India. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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