Skip to main content

File your tax return the E-filing

Invest In Tax Saving Mutual Funds Online

Call 0 94 8300 8300 (India)

 

 



The clock is ticking. It is that time of the year when scores of taxpayers are scrambling to file their Income Tax returns (
ITR). Tax filing is the logical end to all savings and investments done by citizens through the year and is an important recurring activity year after year.
Gone are the days when taxpayers would stand in long queues to file their ITRs or alternatively submit their Form 16 to a chartered accountant to get their tax-filings done. In the past 2-3 years, we have seen an emerging tribe of enterprising taxpayers who have taken the online route to file their ITR. This has paved the way for a number of tax filing portals and other financial intermediaries which offer online tax filing services to individuals.


E-filing gets a fillip:

 

E-filing of tax return is a win-win proposition for the taxpayers as well the Income Tax Department. On the one hand, the taxpayer can file the ITR from the convenience of home or office. On the other, the online push has reduced the processing time of applications for the Income Tax Department, which has resulted in faster tax refunds, ease and convenience.


In fact, the Central Board of Direct Taxes (
CBDT) has made it mandatory for individuals earning in excess of Rs 5 lakh to file their ITR online, effective this financial year.


Tax portals are highly user friendly: E-filing of ITR definitely comes with its own advantages. The tax portals are very user friendly and they decode most of the technical details. These portals have inbuilt mechanisms. Once you upload your Form 16, certain details get populated by itself. Some portals also offer verified tax return service, which cross checks the details already known/available at the IT department database on a real-time basis as the taxpayer keys in the financial details. Thus a taxpayer can file an error free return.


Value-added services need of the hour: An investor essentially looks for a one stop shop for all his/her investment needs with convenience and simplicity in transactions. Hence it was a logical extension for many players to augment their products & services suite to accommodate tax-filing services with an aim to provide better, faster and simpler solutions to clients. Secondly every investment option has a tax connotation. So an avid investor or a trader's tax filing requirements can get complex. Hence what investors require today is a tax filing service bundled with value-added services, which will help them file tax returns not only in a jiffy but also in an aided manner.


So it is advised to avoid the last minute rush and untangle the tax web by filing your tax return online. And also try to keep it simple and error free.


COMMON TAX FILING MISTAKES
Non-reporting of interest income: Banks deduct only 10% TDS on interest income. If you fall in 20% or 30% tax slab, ensure you report the interest income.
Last minute tax saving investments: If your employer has cut excessive taxes due to non-declaration of such investments, you may be eligible for a tax refund, hence mention these investments in your tax return.
Non-reporting of exempt income: Dividends and longterm capital gains on listed securities are exempt from tax. But brokerages/ companies declare this information to the tax department, hence report this income.
Providing right contact details: Ensure you mention an accurate email ID and mobile number in your return since all the communication by the tax department is done via email or SMS.
Not-reporting income from previous employer: If you change jobs during the year, both the employers will give tax benefit of basic exemptions and deductions. Hence less TDS will be deducted from salary, which increases your tax liability at the time of filing the return.
Not submitting ITR-V: You have to send a signed copy of the one-page acknowledgment called the ITR-V within 120 days of e-filing. Otherwise, it merits to non-filing of income tax return

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. ICICI Prudential Tax Plan Invest Online
  2. HDFC TaxSaver Invest Online
  3. DSP BlackRock Tax Saver Fund Invest Online
  4. Reliance Tax Saver (ELSS) Fund Invest Online
  5. Birla Sun Life Tax Relief '96 Invest Online
  6. IDFC Tax Advantage (ELSS) Fund Invest Online
  7. SBI Magnum Tax Gain Scheme 1993 Invest Online
  8. Sundaram Tax Saver Invest Online
  9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

    1. Largecap Funds Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Birla Sun Life Front Line Equity Fund
    2. Large and Midcap Funds Invest Online
      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
    1. Mid and SmallCap Funds Invest Online
      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
    1. Small and MicroCap Funds Invest Online
      1. DSP BlackRock MicroCap Fund
    1. Sector Funds Invest Online
      1. Reliance Banking Fund
      2. Reliance Banking Fund
    1. Tax Saver MutualFunds Invest Online
      1. ICICI Prudential Tax Plan
      2. HDFC Taxsaver
      3. DSP BlackRock Tax Saver Fund
      4. Reliance Tax Saver (ELSS) Fund
    2. Gold Mutual Funds Invest Online
      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund

Popular posts from this blog

IDFC - Long term infrastructure bonds - Tranche 2

IDFC - Long term infrastructure bonds What are infrastructure bonds? In 2010, the government introduced a new section 80CCF under the Income Tax Act, 1961 (" Income Tax Act ") to provide for income tax deductions for subscription to long-term infrastructure bonds and pursuant to that the Central Board of Direct Taxes passed Notification No. 48/2010/F.No.149/84/2010-SO(TPL) dated July 9, 2010. These long term infrastructure bonds offer an additional window of tax deduction of investments up to Rs. 20,000 for the financial year 2010-11. This deduction is over and above the Rs 1 lakh deduction available under sections 80C, 80CCC and 80CCD read with section 80CCE of the Income Tax Act. Infrastructure bonds help in intermediating the retail investor's savings into infrastructure sector directly. Long term infrastructure Bonds by IDFC IDFC issued an earlier tranche of these long term infrastructure bonds on November 12, 2010. This is the second public issue of long-te...

Am you Required to E-file Tax Return?

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300   Am I Required to 'E-file' My Return? Yes, under the law you are required to e-file your return if your income for the year is Rs. 500,000 or more. Even if you are not required to e-file your return, it is advisable to do so for the following benefits: i) E-filing is environment friendly. ii) E-filing ensures certain validations before the return is filed. Therefore, e-returns are more accurate than the paper returns. iii) E-returns are processed faster than the paper returns. iv) E-filing can be done from the comfort of home/office and you do not have to stand in queue to e-file. v) E-returns can be accessed anytime from the tax department's e-filing portal. For further information contact Prajna Capit...

Section 80CCD

Top SIP Funds Online   Income tax deduction under section 80CCD Under Income Tax, TaxPayers have the benefit of claiming several deductions. Out of the deduction avenues, Section 80CCD provides t axpayer deductions against investments made in specific sector s. Under Section 80CCD, an assessee is eligible to claim deductions against the contributions made to the National Pension Scheme or Atal Pension Yojana. Contributions made by an employer to National Pension Scheme are also eligible for deductions under the provisions of Section 80 CCD. In this article, we will take a look at the primary features of this section, the terms and conditions for claiming deductions, the eligibility to claim such deductions, and some of the commonly asked questions in this regard. There are two parts of Section 80CCD. Subsection 1 of this section refers to tax deductions for all assesses who are central government or state government employees, or self-employed or employed by any other employers. In...

ULIP Review: ProGrowth Super II

  If you are interested in a death cover that's just big enough, HDFC SL ProGrowth Super II is something worth a try. The beauty is it has something for everybody — you name the risk profile, the category is right up there. But do a SWOT analysis of the basket, and the gloss fades     HDFC SL ProGrowth Super II is a type-II unit-linked insurance plan ( ULIP ). Launched in September 2010, this is a small ticket-size scheme with multiple rider options and adequate death cover. It offers five investment options (funds) — one in each category of large-cap equity, mid-cap equity, balanced, debt and money market fund. COST STRUCTURE: ProGrowth Super II is reasonably priced, with the premium allocation charge lower than most others in the category. However, the scheme's mortality charge is almost 60% that of LIC mortality table for those investing early in life. This charge reduces with age. BENEFITS: Investors can choose a sum assured between 10-40 times the annualised premium...

Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300 Merger of Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund Tata Mutual Fund has decided to merge Tata Indo-Global Infrastructure Fund with Tata Equity Opportunities Fund, with effect from January 16, 2015.   Investors of Tata Indo-Global Infrastructure Fund can redeem/ switch out units from December 13, 2014 to January 12, 2015 without paying any exit load. For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call Leave a missed Call on 94 8300 8300 Leave your comment with mail ID and we will answer them OR You can write back to us at PrajnaCapital [at] Gmail [dot] Com --------------------------------------------- Invest Mutual Funds Online Invest Any Mutual Fund Online Download Mutual Fund Application Forms from all AMCs Download Mutual Any Fund A...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now