Wednesday, July 1, 2009

Income tax department confirms - UTN not a requirement for AY2009-10

We were the the first to break the news and now the Income Tax department confirmed (here) that UTN (Unique transaction numbers ) are not required.

So stay in peace and file your taxes withought having to wait for UTN number.

Here is the press release by the department:

No.402/92/2006-MC (14 of 2009)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi dated 30th June 2009

The Central Board of Direct Taxes have further decided that the Notification No.
31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the
Income Tax Rules, 1962 shall be kept in abeyance for the time being.
Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or
any other earlier AY, may continue to file their returns without mentioning the Unique
Transaction Number (UTN) as required under the said Notification. The filing of such
returns shall be treated as valid and in compliance to the requirements under section 139
of the Income Tax Act, 1961.
Further, the date from which the Notification No. 31 / 2009 shall become
applicable on tax deducted at source (TDS) or tax collected at source (TCS) and
deposited during the current financial year shall be notified by the Central Board of
Direct Taxes subsequently.
All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS
and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of
Notification No.31 / 2009 dated 25.3.2009.

Whenever, Income tax department stops accepting tax returns without UTN, eLagaan will keep track and make necessary changes to our systems. So you don't have to worry or keep a track about changing tax laws (learn more)