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Tuesday, July 29, 2008

Filing Income Tax Returns

For TRPS details:

Hope all you are aware that Indian Income Tax is supposed to be filed by 31st Jul.

I used to file my tax returns through the office help desk every year. This time as I'm away and cant use the helpdesk. So, I have been reading all the material on net to find a way to compute my liabilities and file it on my own.

I found that our Income Tax department has a e-filing facility at their website

All we need to do is:
Go to, Download the relavent filing form (xls), Fill the details in the xls form, Generate the xml file, and finally Upload the xml on their site.

Note that, on income tax website, you need to register for a new user or login if you are an existing user. And PAN is a must for registration. After you upload xml, you will recieve a confirmation from Income Tax department at your mail id.

Sign it, attach a photo copy of your PAN and send it to the Tax office in your city.

However, Its not as simple as it appears to be. You need to be well aware of all the 80A/B/C/D/E etc to put proper claims :(

It definitely is not user friendly. May be the Indian Income Tax department reads this and makes their xls sheet much more user friendly.

If any of you are in a hurry and wants a quik & easy to use guidance, I advise you to go with online helpers like Taxsmile & Taxspanner. I tested Taxsmile & they have a step by step approach to compute your tax. It is in our conversational english unlike the 80C/CC/CCD/DDD etc..

And there are many more such sites available just a google away!

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