Skip to main content

Online Tax Filing Portals

 There are many tax filing websites and apps through which you can file returns. Here is how you can use them
 
 
Evolution of online platforms for income tax related work has made life easier for tax payers, and their numbers have increased every year substantially. According to data available on the income-tax department's e-filing website,
 
http://incometaxindiaefiling.gov.in/, as on 30 June, there were about 53 million registered users. A few years back, as on 31 March 2012, this number was close to 20 million. These registered tax payers can e-file any type of return on the government website for free.
 

However, those who find it difficult to understand the tax jargon, or have multiple sources of income, may prefer taking help of experts to file their returns. Traditionally, chartered accountants have been the most sought after by tax payers who were looking for assistance to file their tax returns. But, with increasing penetration of the Internet, lack of time and for convenience, tax filing portals are becoming popular.

 

As of now, there are many tax filing websites through which you can file returns. There are many tax filing apps as well that you can download on your smartphone and use.

 

With only two weeks left to file your tax returns (last date is 31 July), here is how you can use online portals and apps to file your tax returns.

 

Tax filing portals
There are different packages and plans that these portals offer, depending upon the number of income sources covered, income level and the type of assistance you need to file your return. You can also file a simple return on your own for free on most of these websites.

 

However, if you need assistance or want them to file your return, you may have to pay (see table). "Individuals with any type of income-be it Indian income or foreign income, from business or share trading-can easily file their returns with or without expert assistance.

 

Most of these websites have user-friendly software. You just need you to follow a few instructions and fill your return. In some cases, you just need to upload Form 16 (if it contains all your earnings' details) on the portal and the software does the rest for you. It picks the relevant details and fills the form on your behalf. With some portals, you need to send Form 16 along with basic information via email. They will do the needful and send you the filled income tax return (ITR) form for further processing.

 

Some portals also take into consideration common issues that most tax filers face while filing returns, such as claiming deduction benefit if not already utilised through the employer and, therefore, not mentioned in Form 16. One such issue is claiming house rent allowance (HRA) while filing returns. Our software lets taxpayers take the HRA benefit (if they could not submit rent receipts to their employer). They just have to answer a couple of questions online. Their HRA exemption is calculated and a majority succeed unassisted.

 

Banks have also tied up with portals to provide tax filing.

 

We look at it as customer convenience and accuracy. When you file ITR on the income-tax website, you have to manually key in your Form 16 details. Here you can just upload a PDF of the form.

 

Using a tax filing app
If you are a salaried individual, besides online portals, you also have the option of filing tax returns through some apps. Most online tax filing companies also offer apps to certain individual taxpayers. All the online tax filing portals try to offer simplified customer interface when they offer apps. For many taxpayers, visiting the income-tax website is intimidating. There is a fear of even reading about ITR on the website because of the jargon used in it.

 

What do you get in a tax-filing app? The user interface is simpler, making it easier for individuals to navigate on the app. Most of the apps are restricted to ITR1. Almost 80% of the salaried individuals use ITR1. Hence, we are catering only to them as of now.

 

Some allow you to file ITR2 and ITR2A. For instance, tax filing portal, Hello Tax's app is only for those who have to file ITR1. However, on its website, you can file ITR2 also. Similarly, ClearTax allows you to file all kinds of ITRs on its website. But on its app, you can file only ITR1, ITR2 and ITR2A.

 

Most of the tax filing done through an app is free of cost. However, some charge a nominal fee. And if you take assistance in filing the tax return, the cost can range from Rs.400 to Rs.13,000, depending on the kind of service. Assisted tax filing means a chartered accountant will help you file your returns. Almost all online tax filing portals that also have apps offer these on Android phones. If you look at the smartphone users in India, majority of them have Android phones. Hence, it makes sense for us to launch it for these users.

 

 

 

 

 

 

 

Completing the process


 

Whether you use a portal or an app to file your tax returns, in either case, you have to complete the process by verifying the acknowledgment. You can do this online using a digital signature or through Aadhaar, Internet banking or ATM. The offline way is to take a print out of the acknowledgement (ITR-V), sign it and then send it to income tax department's centralised processing centre in Bengaluru. You can do so either by ordinary post or by speed post, within 120 days of transmitting the data electronically. The process is then complete. You should save a copy for your record.

 

Once the department receives the acknowledgement, they send you a mail confirming the receipt. But one must remember that after receiving ITR-V, the submitted return gets checked for any errors or missing information before it is sent for processing. Another intimation is sent by the tax department after checking for any calculation error, incorrect claim, excessive deduction, or wrong exemption in the return of income filed.

 

With only a few days left to file tax returns, make sure you have all the information needed to be able to do this.

 

If the income tax department's website seems difficult to use, there are many portals and apps also available. If you can file yourself, then go ahead; if not, then seek assistance.

-----------------------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saver Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Religare Tax Plan

4. DSP BlackRock Tax Saver Fund

5. Franklin India TaxShield

6. ICICI Prudential Long Term Equity Fund

7. IDFC Tax Advantage (ELSS) Fund

8. Birla Sun Life Tax Relief 96

9. Reliance Tax Saver (ELSS) Fund

10. Birla Sun Life Tax Plan

Invest in Best Performing 2016 Tax Saver Mutual Funds Online

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

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

Popular posts from this blog

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...

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...

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...

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...

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