WHAT ARE THE WAYS TO FILE TAX RETURNS

Find out how to file in the simplest and most cost effective manner
MANUAL FILING
Cost: nil, if you do it yourself
rs. 250-1000, if you done through a tax professional.
The traditional, physical route is still the most common way of filing tax returns. Once you figured out the right form for you, fill up the form and submit it to Income Tax Department along with an ITR V. The stamped ITR V will be returned to you, which is your proof having filed your return.
If you are feeling intimidated by the alphabet soup of sections and deductions or the sheer number of entries in the form, take help from a tax professional. He will change a fee, but you won't end up with mistakes in your tax return.


GOING ONLINE
Cost: Nil through government website
rs. 180-1500 through a private portal.
The online channel is the ease and flexibility it offers. You don't have to manually fill up the form and then stand in a serpentine queue to submit. And you can do it at any time of the day, from anywhere in the world.
More importantly, online filing idiot proofs your returns, reducing the chances of error and ensuring that the information is complete in all respect. If you make a mistake, you are promoted by the system to correct it.
Tax filing portals also spare you the trouble of choosing the correct form. As you fill in the fields, the system automatically chooses the relevant form depending on the type of income you have. For instance, if you have income only from salary, interest and rent from one house, the portal will use ITR 1 to file your returns. But if you also include capital gains (from stocks, mutual funds, gold or real estate) in your income, your return will be filed using the ITR 2.
There is a another benefit you get your refund faster. If you have furnished your bank account details correctly in the tax return form, the refund gets credited to your bank account within 40-45 days.



SEE ALSO:
SPECIAL COUNTERS FOR INCOME TAX RETURNS AT BANGALORE

INCOME TAX RETURNS E-FILING CHECKLIST
HOW TO AVOID INCOME TAX RETURN REJECTION
HOW TO PAY INCOME TAX THROUGH ATM
WHICH FORM CAN I USE FOR INCOME TAX RETURNS
HOW TO E-FILE INCOME TAX RETURNS

HOW TO GIVE INCOME TAX RELATED COMPLAINTS (GRIEVANCES) AT BANGALORE
NO INCOME TAX RETURNS FOR SALARIED CLASS ON INCOME UP TO 5LAKH
INCOME TAX SLAB 2011-12
HOW TO GET INCOME TAX REFUND FOR E-FILIED RETURNS

1 comment:

  1. Hi,

    This way of filing provides benefits such as faster refunds, secure and confidential submission and quick confirmation. It also offer online tax filing solutions for individuals that help you save time in achieving tax compliance. Thanks...

    ReplyDelete

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