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<h1>Electronic Filing of TDS Returns Mandatory for Companies: Finance Act, 2003 Updates Section 206 & Rule 37B.</h1> The Finance Act, 2003 mandates the electronic filing of Tax Deduction at Source (TDS) returns by company officers, amending section 206 of the Income-tax Act, 1961. Rule 37B of the Income-tax Rules, 1962 has been updated to require returns on computer media, following a scheme specified by the Board. Forms for TDS returns have been revised, and the Electronic Filing of Returns of TDS Scheme, 2003, has been introduced. Filers must ensure compliance with specified data structures and verification requirements. Non-compliant returns will be returned for correction. Previous guidelines from Circular No. 797 are modified accordingly.