E-filing of Tax Return compulsory for Income above 10 Lakhs

It is now mandatory for individuals or Hindu Undivided Family (HUF) with income of over Rs 10 lakhs to file their tax returns for 2011-12 electronically.

This is good news for lot of websites which help people for e-filing of Tax returns. Also e-filing has a lot of advantages than traditional way of filing returns by paper.

Returns are processed much faster: The entire processing of filing returns and processing of refunds is reduced. You can expect returns with in 1 -2 months.

Accurate: You fill the fields yourself, so the chances of clerical  error is reduced. Also built in validations and automatic calculations further reduces chances of error.

Fill it Anytime, Anywhere: You can file your income tax returns at your convenience anytime and anywhere. You just need a computer and Internet connection and your are ready to go.

Privacy is Protected: You need not share your income details with any other person or your CA. So your privacy is protected.

Easy access to all your previous returns: In case you file returns electronically all the data is securely stored on the web which you can access in a click of button. The previous returns at times have valuable information that you would need to use in present year returns.

Environment friendly: You save paper which helps environment.

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