CBDT appoints Bharat Overseas Bank as e-return intermediary

Chennai: Bharat Overseas Bank (BOBL), a city-based private bank, has been authorised by the Central Board of Direct Taxes (CBDT) to act as e-return intermediary.

As a result BOBL will prepare the income tax returns for eligible taxpayers who approaches with details of their income along with supporting documents on verification of the permanent account number (PAN).

An e-return is defined as electronically transmitted data of the income furnished under the scheme duly supported by a duly signed paper return of the income. The bank will transcribe the data from the paper return of income of the taxpayer, in a prescribed electronic format and transmit the same to the designated server of the income-tax department.

BOBL will soon offer the e-return facility at its main branches in Chennai, Delhi, Mumbai, Kolkata, Bangalore, Hyderabad and Ahmedabad. The scheme will be put into operation shortly.