e-filing Income Tax Returns got introduced in India in September 2004. It aimed to provide Government services via digital mediums. Though launched for a voluntary usage basis, it has completely revolutionized the way individuals and businesses file their Income Tax Returns.
Moreover, the seven significant advantages of e-filing Income Tax Returns in India are:
The e-filing portal offers complete transparency and confidentiality.
You can file your tax returns with honesty on the income tax department's e-filing potential.
You need not worry about who will view your tax information. Only those whom you share your e-filing user ID and password with; can access your data.
The e-filing portal is safe to use as it's built with the latest technology for internet security.
There also exists no fear of human discrimination on the online portal. All Indian citizens get the same services irrespective of who they are.
You can file your Income Tax Returns by yourself from the comfort of your home.
The Income Tax Department's e-filing portal is straightforward to use. It has all the information, tools and the necessary forms you need to file your Income Tax Returns online. Moreover, the information on the portal gets updated often.
Now you don't have to depend on a qualified accountant to file Income Tax Returns. Nor do you have to stand in queues to collect your tax refund. You can file your Income Tax Returns online whenever you get the time. The portal is available 24*7.
E-filing Income Tax Returns is convenient and less time-consuming.
Any errors are easy to correct on the e-filing Income Tax Portal.
The process of correcting any errors is rather simple online. You can edit your form many times before you save and submit it. Digital forms don't need you to fill out all the information again if you have made a mistake.
You can maintain and access your tax records online.
There is no physical paperwork involved in e-filing your Income Tax Returns. You don't need to sit and save your digital records in online folders either. All your information gets organized by itself; categorized by year. You also get access to view your 26AS Form.
Moreover, you maintain well-organised paper-free records; available to you whenever you need them.
E-filing helps get faster income tax refunds.
It's easier for the Income Tax Department to verify your information online. That's why refunds get processed faster. Under the ordinary course, you get your Income Tax refund within three to six weeks. You get an SMS alert when your tax refund gets processed.
The refund amount gets deposited straight to your bank account.
Use the "Check Refund Dispatch Status" tab on the e-filing portal to track the status of your Income Tax refund.
You get an immediate confirmation receipt on e-filing your tax returns.
Once you finish filing your returns and click on submit, you receive an e-verification message. You don't need to send paper cheques to pay your tax liability. The e-filing portal allows you to use e-payment modes like a bank transfer.
On completing the e-verification process, you receive an email with a confirmation of submission.
In case of any mishaps, you can use the receipt as proof of submission.
You can file and view the status of your queries online.
You can use the e-Nivaran service on the Income Tax website to submit your grievance. When you submit the form, you will get a "Grievance Acknowledgement Number". You must enter it to check up on the status of your query.
On the submission of any grievances, you will receive an OTP (one-time-password) on your registered mobile number and email ID. The OTP is needed to check the status of your complaint.