Saturday, 27 August 2011

On Line Submission of Income Tax Return

Now, e-filing is mandatory not only for companies but also for those assesses whose accounts are required to be  audit u/s 144AB.  After this notification, a lot of assesses covered for mandatory e-filing of Income Tax Return.   When we submit Income Tax Return through e-filing system, there is no need to prepare return physically and no need to stand in big rows.   No need to purchase software for submitting online returns.  NSDL provides all excel based utilities in Free.  There is no charges and all are available at www.incometaxindia.gov.in.  Some benefits of e-filing is given as under :-
  • Validation before uploading.
  • Auto Income Tax calculation is available in all utilities. 
  • Easy Data Entry.
  • No need of calculation for calculating Depreciation on Fixed Assets etc. 
  • Extra Time to Send ITR-V through ordinary post.
  • Return can be uploaded on holidays etc like Saturday and Sunday. 

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