Income tax department to allow online filing of forms for tax breaks

Income tax department to allow online filing of forms for tax breaksThe income tax department said on Monday it will allow online filing of applications for tax breaks to certain entities which at present have to file these manually.

The beneficiaries of the move are charitable institutions, religious trusts, not-for profit universities and educational institutions as well as not-for profit hospitals. These entities have to apply for tax relief on the funds they receive. Also, individuals who claim deduction under section 80G for the donations made to certain entities from their taxable income will be allowed to apply online.

The idea is part of the department’s initiatives to digitize and automate taxation procedures. “It is imperative that manual filing of these applications should be done away with so as to ensure not only faster processing of the same but also to reduce the interface between the department and the applicant,” said an official statement. Reducing the interface between officials and the applicants may reduce chances of corruption.

The department has sought public comments by 12 November on the draft notification proposing the changes.




Source: LiveMint


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