FM has clarified that July 31 will be the last date for filing returns thereby ruling out any postponement, and requested taxpayers not to delay the filing process.

Also, submitting of returns at post offices may not be allowed this year.

E-filing of tax deducted at source (TDS) returns will be mandatory from September 1, 2007 for companies whose turnover is Rs 40 lakh or more a year. E-payment of TDS would be mandatory for them from January 1, 2008.