Income tax returns: Crowd at counter shrinks as many take e-route
August, 06th 2012
Manual filing of income tax returns is becoming a thing of the past, as more individuals and Hindu undivided families are opting to file their returns electronically.
Last year 1,63,188 individuals coming under the salaried and business categories filed their returns in the state at counters, only 1,00,908 people have filed their returns till Tuesday. In Chennai, only 62,834 people filed their returns compared to 1,03,553 last year, says figures furnished by the Income Tax department, Chennai . The central board of direct taxes has extended the deadline to August 31.
I-T officials said the drop in number of people filing manually could also be because of two other factors. One, those with annual income of less than Rs 5 lakh have been exempted. Two, those with annual income of more than Rs 10 lakh have to compulsorily file the returns electronically. However, officials add, several people who fall in the Rs 5 lakh to Rs 10 lakh bracket too filed their returns electronically, bringing down the manual filing further, said K Saravanan, income tax officer, Chennai.
"The filing of e-returns is hassle-free , and you don't have to stand in a queue. Moreover, one gets an electronic receipt immediately if all the particulars are filled in properly. It also helps in getting refunds a little faster," says V Ramprakhash, a chartered accountant. There is no problem in submitting proof of investment as most of the exemptions are shown on the salary slip and quoting electronic numbers of the insurance or other receipts in the e-return solves the problem of proof submission, says Ramprakhash.