What is the use of e-return?

Question

What is the use of e-return?

Answer 1

If you had a digital signature then this is great since you would not require to see the IT Office at all for IT returns submission. If you do not have one, this saves you money charged by CA and the ike to file your returns. You may fill the relevant ITR online and take the copy of ITR-V and submit at IT Dept (again - not necessarily that you must submit personally - it can be submitted through anyone).

In effect, it saves you a lot of time :-)

Answer 2

“e-Return” means electronically transmitted data of return of income.

Answer 3

It can be filed any time even during the night. Saves paper. If you can not go to income tax office to deposit your tax return before July 31, 2008, then you can e-file it.

You will still need to deposit ITR-V (electronic filing receipt) within 15 days.

For information on your Income Tax return and to download the forms, go to http://mytaxes.in/index.php?topic=32.0.

If you want to file online, read http://mytaxes.in/index.php?topic=94.0

Answer 4

Filing of Income Tax returns is a legal obligation of every person whose total income for the previous year has exceeded the maximum amount that is not chargeable for income tax under the provisions of the I.T Act, 1961. Income Tax Department has introduced a convenient way to file these returns online using the Internet. The process of electronically filing your Income tax returns through the Internet is known as e-filing of returns.

E- filing offers convenience of time and place to tax payers. This facility is available round the clock and returns could be filed from any place in the world . It also eliminates/ reduces interface between assessee and tax officials. The procedure of e- filing is explained on the home page of the website.

Any individual or organization that files returns using the general method can take advantage of this facility. The pre-requisite for filing online is that you must have a valid PAN number. Direct E-filing is available for FORM NOs. ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 & ITR-8.

Answer 5

you dont have to go to income tax office and stand in long queues . thats all.