indian income tax computation software free download

There are several reasons to file your Income Tax returns. Now we will look into the importance of ITR filing. Remember that you can choose any one of these options to e-File your returns. The third option is to use DSC or Electronic Verification Code (EVC )to e-File in which case no further action is needed.

The second option is to e-File the Income Tax Return through an e-Return Intermediary ( ERI) with or without DSC. There is no further action required once the ITR V form is submitted. The form should be printed, signed and submitted to CPC or Income Tax Department Centralized Processing Centre, Bangalore using an ordinary post or speed post within 120 days of e-Filing.

The first option is to file your returns electronically without the digital signature certificate (DSC). Also, it is a simple process and can be done for free online through the Income Tax Department’s website. The traditional method to file returns is the offline way where one needs to go to the income tax department’s office or a bank branch to physically file returns.įiling your tax returns through the Internet or online is an easier process because one does not need to take a physical print out of the documents. In this article, we will focus on Income Tax returns for individual assessees.Į-Filing or electronic filing is simply filing your Income Tax returns online. If the returns show that one has paid excess tax during a given financial year, one is eligible for returns. Such income needs to be above a basic exemption limit. It is a way to inform the government about the money you have earned during a financial year and the taxes you have paid.Īccording to the Income Tax Act, Income Tax returns must be filed every year by an individual or business for all sorts of income one has received in that year which could be through wages, dividends, interest, capital gains and other sources. Income Tax return refers to tax form or forms an individual uses to file Income Tax with the Income Tax department.

Indian income tax computation software free download