Many countries see tax as one of the major sources for their government. In order to develop social and physical infrastructure, it needs to accumulate money, a part of which can be accomplished from taxes.
As responsible citizens, it is our civic responsibility to support the nation-building efforts by paying taxes on time. Now, when it comes to filing taxes, there are two methods available, namely manual filing and e-filing. Manual filing requires a taxpayer to manually file income tax returns by visiting the income tax office. The other one is e-filing.
E-filing is also known as tax return online. Under this method, a taxpayer can electronically submit the returns. There are several benefits of filing tax returns online. In this article, we will take a brief look at some of those benefits. Please read on, and for any queries, please leave your comment.
Convenience
The filing of income tax returns is mandatory for all citizens whose taxable income exceeds the basic exemption limit. When it comes to the benefits of e-filing, the number one benefit is perhaps its convenience. A taxpayer does not need to stand in long queues to file returns. They can sit at their home or workplace, thereby saving enough time and effort.
File returns anytime
Filing income tax returns online is also beneficial because physically submitting the return may be possible only during the working days, and the facility can be unavailable during bank holidays and national festivals. The online method of submitting allows one to submit the returns any time of the day or night, no matter the day.
Track real-time status
By filing income tax returns online, one can easily access the updated status without having to depend on the manual process and the postal service for the mail to arrive. The updated real-time status of the filing can be notified through email, allowing a taxpayer to have a receipt of the activity quickly.
Uncomplicated and simple process
The offline method of filing is uncomplicated and simple. One can upload necessary documents, so s/he can access them whenever needed without having to redo the same thing all over again. This saves time and effort again. Most importantly, the entire process of filing tax returns has been made simpler over time, allowing a taxpayer to accomplish the task without much hassle.
Less errors
When submitted properly, e-filing can have better accuracy. Manual filing – be it of any kind – can be prone to errors. E-filing, on the other hand, is user-friendly, and with step-by-step instructions and several useful features, the room for errors diminishes.
Income tax returns e-file
These are just some of the most important benefits associated with e-filing. To learn more about income tax returns e-filing across India and e-filing income tax returns, please feel free to follow Alankit.com.
Original Resource: https://www.linkedin.com/pulse/value-filing-income-tax-returns-online-ranjan-malhotra
