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 Why you need not rush to file your ITR immediately

Filing Tax Returns Online Sees Slow and Gradual Reception
October, 20th 2014

With no stacking the IT-return acknowledgement forms anymore, no last-minute scramble with auditors or tax consultancies, e-filing has simplified the process of filing tax returns a great deal, feel salaried professionals.

“There was no rush for photocopies / attestations, nor any 'SOS' being sent for gathering more information on 'difficult-to-understand' terminologies. We could file our tax returns and understand what really the process meant - more at an individual level,” felt Anirudh a marketing manager, Lodha Group.

This seems to be the unanimous opinion of a good fraction of the employed who file their returns online without seeking outside help, according to Senapathy an auditor. He felt that the tech-savvy among the salaried professionals went ahead to file their returns online without help” It is easier for them with TDS being deducted every month. They have fewer procedures, thus making it easier. No drastic reduction in those who seek help, but there is a notable rise in those who file returns independently,” he added.

Tax consultancies too found a reduction in the number of salaried professionals who availed their services. Mumtaj from Anbu Tax Consultancy said,” There are several websites that give clear, step-by-step instructions. Relatively young, salaried professionals, who are well-versed with the web, opt to file their own returns online.”

However, not all of them file on their own. Some are apprehensive and would not want to commit mistakes because rectifying them is a cumbersome process, they feel. Mumtaj said that the older tax payers who have all along been used to the normal process depend on agencies and auditors as they were not habituated to the new system.

On the other hand, businessmen for whom filing I-T returns is not as simple, mostly depend on the auditors who manage the accounts. Kirti B, a businessman opines that the auditors, who have a better understanding of his accounts, would know better about the taxes and as a result, file the returns, online or otherwise. Besides, for those under Section 44-AB under the I-T Act, the form has many provisions that requires special knowledge to fill, added Senapathy.

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