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However, digital signature will not be mandatory for these taxpayers and they can also transmit the data in the return electronically and thereafter submit the verification of the return in Form ITR-V.
E-filing of returns under digital signatures is already mandatory for any company required to furnish return, or for an individual or HUF whose annual income is Rs 40 lakh and above and required to furnish the return in Form ITR-4.
The Income Tax department had received a record number of 1.64 crore returns electronically last year for the assessment year 2011-12, the note said. The electronically filed returns are processed at the Centralized Processing Centre at Bengaluru.
The processing for e-filed return is faster and taxpayers get their refunds, if due, quickly. The department also provides some value-added services like tracking of refunds, viewing tax credit status (Form 26AS), e-mail and SMS alerts regarding status of processing and refunds to taxpayers, who e-file their returns.
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