With e-Filing taxation is a very light subject now
By: Sheena Tandon on Tuesday, November 04, 2008, 01:10:42 PM
1 Reponses

Income tax is that form of direct taxation, whose burden falls directly on the taxpayer. It includes all the income, save the agricultural one, which is levied and gathered by the union government and then shared with the states.

As per the Income Tax Act 1961, all of such Indians fall in the category of 'assessee' whose total income is above the maximum exemption limit. Such persons are charged as per the rates prescribed in the Indian finance act. In the relevant assessment year, such tax is paid on the total income of the last year.

Well all of us have, even though it is one of the most constructive mechanism of contributing to the nation's development, some sparks of complaints against the system of taxation. In fact, we do take it with a pinch of salt. And not without any reasons. But that does not mean the concept of taxation is misplaced. Yet, we need to accept that this negative connotation linked with the term 'income tax' is born of certain discrepancies like corruption, red-tapism, vague definitions etc. But not any more. Now you can save yourself of a lot of problems by going the e-Filing way. It is the hassle-free way of filing all types of returns. You need not waste your time in the corrupted-corridors of government offices. Also your rights are not infringed upon by the leering gaze of some government official. All you have to do is to go online and fulfil the formalities in the easiest manner possible.

e-Filing is the most important development in the field of income tax in India. The process is a very simple and uncomplicated one. On the websites of several financial service providers, one can very easily download the 'return preparation software' belonging to the tax-filer's return form category. After that you are required to get registered and create a user ID and password. After logging in and clicking on the relevant form, all you have to do is to select the 'Submit return' option. After uploading the details, you can have the acknowledgement in print for your record. Suppose in case the return is not digitally signed, then an ITR-V form is generated which is required to be got in print by the tax payer. It is the verification cum acknowledgement form. Its verification part has to be filled by the tax payer. This duly verified ITR-V form has to be submitted to the Department of Income Tax within a fortnight of the e-Filing. In this manner the non-digitally signed return process is finished.


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1 .  Sakshi Mitra Says:

Tuesday, November 04, 2008 , 05:03:55 PM
I totally agree that e-tax filing has served the people to a large extent. With this technique, people dont have to waste their precious time in standing in long ques to file their return. With E-tax, work has become simpler as it is done just through a click of mouse. It is hazzle free.

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