There are several private websites through which you can file a fast-online tax return very conveniently and safely from the comfort of your home or office. These online websites are legally authorized by the department of income tax and can be trusted completely. Gone are those days when you had to do really tough paper works to get your files returned and made. Now, with advanced technology and with the click of a mouse, you can go for filing tax returns online and enjoy multiple tax benefits.
What are the Benefits of filing tax return online?
- Real-time processing – E-filing of the income taxes are being uploaded in the tax system and this enables the tax computations as well as processing on a real-time. If the personal details are being filled in the online portal correctly and if it matches with the particulars entered in the income tax department, the taxpayers instantly receive an acknowledgement of their tax filing online. In case any change is required, the online portal will make you alert of that.
- Free jurisdiction – When you opt to e-file your tax, the jurisdiction is absolutely free of cost and there are no charges for all the conveniences attached to the same.
- Quick refund – The physical filing of the tax returns takes several months to get back the refund but in case of online filing, the refund is much quicker. The income tax department encourages more and more tax payers to file their returns electronically as it is easier for the department to handle them.
- Revising the return online – In case the return is being filed online prior to the due date, in many cases, the taxpayers miss out on declaring any investment or income. In such cases, the taxpayer enjoys the option of revising the return online.
- Rectifying any mistake online – If you’re opting for physical returns and in case there is some mistake, there would not be any provision of rectifying the mistakes online. This procedure of online rectification I simpler and faster and is available only if you file your returns online.
Step by step guide to income tax filing online
Step 1 – First of all you have to log in to the income tax filing portal online and then download the desired software. The software is nothing but the form where you need to fill up your particulars for online income tax filing.
Step 2 – In this step, you are required to fill up all the details as per the instructions and you may have to attach some soft copies of supporting documents for going ahead in the process.
Step 3 – Once you have filled all the details, you have to login in the website and then upload the returns.
Step 4 – You would come across two options namely “Digital Signature” & “No Digital Signature”. This is an obvious fact that most of the taxpayers do not have a digital signature. So, that option has to be selected. The XML file is to be uploaded followed by that. Then you would receive your acknowledgement. You would be required to download the acknowledgement for your future reference.
Step 5 – Then you are supposed to send this acknowledgment to the Income Tax Department on the mentioned address to complete the procedure.
The above facts are certainly convincing and thus you would certainly adopt fast online tax return for enjoying the long list of benefits attached to it. Online filing of tax is a completely hassle-free process that helps you in maintaining a clear balance sheet and also not be in a position to court any legal difficulties. With updated tax files, you can also apply for any type of loan that you want.