Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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: TDS :: due date for vat payment :: list of goods taxed at 4% :: form 3cd :: VAT RATES :: ACCOUNTING STANDARDS :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT Audit
 
 
News Headlines »
 Filing tax returns? Here are seven things to remember
 Clarifications on computation of book profit for the purposes of levy of Minimum Alternate Tax (MAT) under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
 Mistakes in filing income tax returns that may get you a tax notice
 Know how you can claim return of income in Form 26 AS case
 What you must know for tax filing this year
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid

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