ADVANTAGES OF E FILING OF TAX RETURN

1. ACCURACY: By using e-filing, the chance of error goes down to about 1%. Income tax returns can be filed with the help of various tax preparation softwares available.

2. SECURITY: Tax returns processed electronically are processed over secured and encrypted lines.

3. PAPERLESS

4. COMPLETENESS: The online tax preparation software will let you know if your tax return is missing any information.

5. RECEIPT ACKNOWLEDGEMENT; Upon completing and submitting your income tax return, your service provider will send you a receipt acknowledgement confirmation.

6. FASTER REFUND; By efiling your tax return, you will receive your income tax refund faster. The time involved in refund […] Read more

E FILING NEW RULES

E filing of income tax returns is today a very common thing. But till now people were filing their income tax electronically due to option not by compulsion, today new notification is issued that persons having 10 lakhs or more of annual income has compulsorily e file the income tax return.

Till now they had the option of either e file it or file it manually. This change is applicable from this financial year i.e. 2012-13.

Online filing of income tax has several advantages that you can check the refund status and will receive refund within 3 months.

This notification is only […] Read more