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TMI BlogCBDT Relaxes Compulsory E-Filing of Return of Income for Assessment Year 2012-13 - for Representative Assessees of Non-Residents and in the Case of Private Discretionary Trusts.X X X X Extracts X X X X X X X X Extracts X X X X ..... CBDT Relaxes Compulsory E-Filing of Return of Income for Assessment Year 2012-13 - for Representative Assessees of Non-Residents and in the Case of Private Discretionary Trusts. - News and Press Release Dated:- 31-7-2012 - News - Press Information Bureau Government of India Ministry of Finance 31-July-2012 17:15 IST CBDT Relaxes Compulsory E-Filing of Return of Income for Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment Year 2012-13 - for Representative Assessees of Non-Residents and in the Case of Private Discretionary Trusts Rule 12 of the Income-tax Rules, 1962 mandates that an individual or Hindu undivided family, 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 ten lakh rupees, shall furnish the return electr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onically for the assessment year 2012-13 and subsequent assessment years. It has been brought to the notice of the Board that the agents of non-residents, within the meaning of section 160(1) (i) of the Income tax Act, are facing difficulties in electronically furnishing the returns of non-residents. This is because there may be more than one agent of the non-resident in India for different tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsactions or a person in India may be an agent of more than one non-resident. Such situations are not covered by the existing e-filing software which functions on the principle of one assessee-one PAN-one return. It has also been brought to the notice of the Board that private discretionary trusts having total income exceeding ten lakh rupees are facing problems in filing their return of incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e electronically in cases where they are filing their return in the status of an individual. This is because status of a private discretionary trust has been held in law as that of an individual . The existing e-filing software does not accept the return of a private discretionary trust in the status of an individual . Accordingly it has been decided by the Board that: (i) it will not be man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... datory for agents of non-residents, within the meaning of section 160(1) (i) of the Income tax Act, if his or its total income exceeds ten lakh rupees, to electronically furnish the return of income of non-residents for assessment year 2012-13; (ii) it will not be mandatory for private discretionary trusts , if its total income exceeds ten lakh rupees, to electronically furnish the return of i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome for assessment year 2012-13. DSM/SS/Hb - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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