How to file your returns?
There are two possible ways to file your returns—online and offline.
Though many are contemplating whether it’s worthwhile shifting from the old fashioned method of filing returns physically to a modern method i.e. e-filing which was introduced in the assessment year 2006-07, but the fact remains that with the last day for filing Income Tax returns coming close, whatever means you choose—offline or online, what matters is that it is done before its too late.
What is E-Filing of returns?
It means filing your Income tax returns electronically through the internet. It’s a simple, easy and convenient process.
You can log on to www.incometaxindia.gov.in and file returns for free. However the process involved is complicated, which might be confusing for a lay man as it includes downloading of an XML file.
To save you of this complication, many websites like www.myitreturn.com, www.taxspanner.com and www.taxsmile.com, today offer easier online tax filing services which do not involve any downloads, but they do charge you a minimal amount varying from Rs 250-300.
In an offline mode, you can go to your Chartered Accountant and submit all required documents, paying a consultation fee, which could go up to as high as Rs 2500, varying from CA to CA.
However, the online mode is said to be a faster, quicker and easier way to file your returns.
The return form, along with copies of necessary supporting documents, has to be filed at the appropriate income tax office or special counters set up for this purpose by Income Tax Department of India.
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