Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: cpt :: VAT RATES :: empanelment :: TDS :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)

How to e-file your tax returns
December, 09th 2013

E-filing of tax returns has grown manifold in the past 6 years. In 2007-8, less than 22 lakh taxpayers filed their returns online. Last year, more than 2.15 crore taxpayers took the online route. The end of the current financial year is still more than 3 months away but e-returns have already crossed the 2 crore mark. The surge is also due to the new rule that requires taxpayers with an annual income of Rs 5 lakh to file their tax return online.

Filing tax returns online is easy. The average taxpayer won't take more than 30-40 minutes to enter all the details and upload the return. It is also very cost-effective. Tax filing portals charge individual taxpayers anything between Rs 200 to Rs 900 for uploading their tax returns. You can also do it for free on the official website of the income tax department.

Calculate your gross taxable income and the tax payable after all deductions and exemptions. Private portals charge a fee because they hand-hold taxpayers through the process. It's easier and ensures that your tax return is error free. Some e-fling companies even verify your return for a small fee. They check if you have entered correct information and alert you when you are going wrong.

Before you file your returns, check whether the tax you paid has been correctly credited to your name. The Form 26AS has details of the tax deducted on behalf of the taxpayer and can be easily checked online. It is even easier if you have a netbanking account with any of the 35 banks that offer this facility.

Otherwise you can go to the official website of the income tax department and click on "View Your Tax Credit". First-time users will have to register but it takes less than 5 minutes before you can log on and view your details.

Common deductions and exemptions Your gross taxable income gets reduced by the following deductions and exemptions.

TAX SAVING INVESTMENTS: Under Sec 80C, up to Rs 1 lakh invested in specified products or spent on certain heads is eligible for deduction. See the table below for a checklist.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions