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Salaried class will be spared filing IT returns: Chidambaram

     New Delhi: Finance Minister P Chidambaram said here on Thursday that the salaried class might be spared from filing Income Tax (IT) returns once the fully online Tax Information Network (TIN) comes into effect from the next year. "We are considering the proposal of sparing the salaried class from filing IT returns if they do not have any other source of income," said Chidambaram. He said that the government has already initiated process to make the return filing paper-less. "The idea behind online filing of returns is to move towards paperless filing of Income Tax returns, salaried class will be spared from filing returns once the system is fully in place," he said. Meanwhile, Chidambaram also warned the tax evaders to file their tax returns by the October 31 deadline. "The best way to celebrate Deepawali is to file your returns the previous day on October 31 so that you hold your head high and enjoy the festival," he said. Armed with crucial information, tax authorities will tighten noose on evaders and send SMS to 1-1.5 crore high-value Deepawali purchasers to file income tax returns before the October 31 deadline, he said.

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